City Council

27. Public Hearing ­ Approve an Amended and Restated Regulatory Agreement for the\nRehabilitation of Garden Court Apartments Located at 300 East Santa Ana Boulevard,\nSanta Ana, CA 92701, Adopt a Resolution Approving the Issuance of Revenue Bonds, and\nConduct a Tax Equity Fiscal Responsibility Act (TEFRA) Hearing\nLegal notice published in the OC Reporter on July 9, 2024.\nDepartment(s): Community Development Agency\nRecommended Action: 1. Authorize the City Manager to execute an amended and\nrestated agreement containing Affordable Housing Covenants with Orange Housing\nDevelopment Corporation for the rehabilitation of Garden Court Apartments located at 300\nEast Santa Ana Boulevard, Santa Ana, CA 92701 (APN 398­323­08) (Contingent upon\napproval of Housing Authority Item # 3) (Agreement No. A­2024­XXX).\n2. Approve the Relocation Plan and authorize the City Manager to approve amendments to\nthe Relocation Plan prior to commencement of the rehabilitation of Garden Court\nApartments, substantially in the draft form attached hereto, subject to changes consistent\nwith the project approved by the City Manager and City Attorney.\n3. Conduct a Tax Equity and Financial Responsibility Act Hearing in consideration of the\nissuance of tax­exempt bond financing by the California Municipal Finance Authority for\nC&C Development Co., LLC, to finance the acquisition, rehabilitation, improvement, and\nequipping of Garden Court Apartments located at 300 East Santa Ana Boulevard, Santa\nAna, CA 92701 (APN 398­323­08).\n4. Adopt a resolution approving the issuance of revenue bonds by the California Municipal\nFinance Authority in an amount not to exceed $55,000,000 for financing the rehabilitation of\nGarden Court Apartments.\nRESOLUTION NO. 2024­XXX entitled A RESOLUTION OF THE CITY COUNCIL OF THE\nCITY OF SANTA ANA APPROVING THE ISSUANCE BY THE CALIFORNIA MUNICIPAL\nFINANCE AUTHORITY OF EXEMPT FACILITY BONDS FOR THE GARDEN COURT\nAPARTMENTS\n5. Determine that the approvals and authorizations provided for herein do not constitute a\n"project" within the meaning of California Public Resources Code § 21065 and authorize\nfiling a notice of exemption based on the "common sense" exemption of 14 C.C.R. §\n15061(b)(3) to the extent any activity would be considered a "project" because it can be\nseen with certainty that there is no possibility that the activity in question may have a\nsignificant effect on the environment and the activity is not subject to the California\nEnvironmental Quality Act (CEQA). Page 15 7/16/2024