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Home My WebLink About1985-473 2, 213-1/1169SI ak 11111/85 RESOLUTION NO. 85-473 RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN BERNARDINO, CALIFORNIA, AMENDING A CERTAIN APPLICATION AND RATIFYING THE PUBLICATION OF A NOTICE OF PUBLIC HEARING ON THE ISSUANCE OF APPROXIMATELY $11,400,000 PRINCIPAL AMOUNT OF MULTIFAMILY MORTGAGE REVENUE BONDS (DEL ROSA GARDENS PROJECT) WHEREAS, the City of San Bernardino, California (the "City"), is a "home rule city" duly organized and existing under and pursuant to a Charter adopted under the provisions of the Constitution of the State of California; and WHEREAS, pursuant to its home rule powers, the City duly and regularly enacted Ordinance No. 3815, as amended (the "Ordinance"), to finance various types of projects, as defined in the Ordinance, and to issue its special revenue bonds for the purpose of enabling various developers to finance the cost of such projects, and has amended the same from time to time; and WHEREAS, the Ordinance, as amended, is intended to finance the development of industry and commerce and to thereby broaden the employment opportunities and to increase the availability of moderately priced rental units for residents of the City and to broaden the tax and revenue base of the City without any liability to the City whatsoever; and - 1 - WHEREAS, the Mayor and Common Council of the City of San Bernardino, California (the "Mayor and Common Council"), pursuant to its Reso lution No. 85-213, adopted June 17, 1985, has accepted a certain Application (the "Application") by ELMWOOD DEL ROSA PARTNERSHIP, a partnership. a California general partnership in the process of formation, or its successors or assigns (the "Original Applicant"), requesting the issuance of multifamily mortgage revenue bonds in the principal amount not to exceed $9,775,000 for the purpose of financing, on behalf of the Original Applicant, a certain Project, to wit: the acquisition of land and the construction thereon in one or more phases of a two hundred thirty-two (232) unit senior citizen multifamily rental and congregate housing development which was to be constructed on an approximately four and one-half (4.5) acre parcel bounded on the north by Highland Avenue, on the west by Del Rosa Avenue, on the south by Rosa Avenue and the east by Elmwood - Road and said Project was to consist of approximately one hundred sixteen (116) one-bedroom, one-bath senior citizen renta 1 units and one hundred sixteen (116) congregate units of which seventy (70) of said congregate units will be private, or single occupancy units and forty-six (46) of said congregate units will be semi-private, or double occupancy units, on-site vehicle parking spaces, laundry and recreational rooms, appurtenant landscaping and other improvements and other improvements; and WHEREAS, the City has been requested by the Original Applicant to accept certain conforming amendments to the Application - 2 - to affect a substitution in the developer of the Project from the Original Applicant to ELMWOOD DEL ROSA, a partnership, a California limited partnership in the process of formation, or its successors or assigns (the "Developer"), a decrease in the number of senior citizen rental and congregate units in Project from two hundred thirty-two (232) to two hundred (200) such units in view of certain increases in the total anticipated cost of construction of the Project, an increase in the aggregate principal amount of tax-exempt financing for the Project to $11,400,000; and WHEREAS, it is the intent of the Mayor and Common Council that the above referenced Resolution No. 85-213 shall remain effective as of the date of adoption thereof in that this Resolution of the Mayor and Common Council shall not be deemed to alter. amend or modify the effective date of said Resolution No. 85-213 in any manner whatsoever; and WHEREAS, the certain amendments to Section 103 of the Internal Revenue Code of 1954, as amended (the "Code"), as enacted by Congress under the Tax Equity and Fiscal Responsibility Act of 1982 ("T.E.F.R.A. "), require that a public hearing be held in connection with the authorization and issuance of any industrial development bonds including such bonds issued for the purpose of enabling various developers to finance the cost of multifamily rental housing; and - 3 - WHEREAS, the Ci ty has been requested by the Developer to hold a public hearing pursuant to the Code, as amended by T.E.F.R.A., for the issuance and sale of multifamily mortgage revenue bonds by the City as permitted by the Ordinance, as amended; and WHEREAS, the City must now approve the requests of the Original Applicant and the Developer. NOW, THEREFORE, THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN BERNARDINO, CALIFORNIA, DO HEREBY FIND, RESOLVE, DETERMINE AND ORDER AS FOLLOWS: Section 1. The recitals set forth hereinabove are true and correct in all respects. Section 2, The Mayor and Common Council hereby accepts and approves the conforming amendments to the Application of the Original Applicant, which amendments effect a substitution in the developer of the Project from the Original Applicant to the Developer a decrease the number of senior citizen rental and congregate units in the Project from two hundred thirty-two (232) to two hundred (200) such units and in view of certain increases in the total anticipated cost of construction of the Project, an increase in the aggregate principal amount of tax-exempt financing for the Project to $11,400,000. - 4 - Section 3. Pursuant to the requi rements of Code Section 103(k). the Mayor and Common Council hereby ratifies and approves the publication of notice of the public hearing by the City Clerk in connection with the Project referred to in the recitals hereof to be held in accordance with said Code Section 103(k) on December 2, 1985, at the hour of 11:00 A.M., in the Council Chambers, San Bernardino City Hall, for the purpose of considering the public benefits and public purposes to be furthered by the financing or financings contemplated by the action of the City pursuant to this Resolution for the issuance of multifamily mortgage revenue bonds by the City for the Project pursuant to the Ordinance. as amended. A public hearing sha 11 be held at the hour and on the date herein provided for the Project. The Mayor and Common Council hereby ratifies and approves the action of the City Clerk, which City Clerk caused to be published by at least two (2) insertions, one of which shall not be less than fourteen (14) days prior to said hearing, in The Sun, a notice of public hearing substantially in the form of the notice attached hereto as Exhibit "A" and incorporated herein by reference and made a part hereof. Section 4. The Developer shall provide appropriate covenants in the tax-exempt financing documents as may hereinafter be submitted to the City for consideration and approval in a form acceptable to the City Attorney and Bond Counsel and to assure that not less than twenty percent (20%) of the multifamily rental housing units included in the Project are to be occupied or reserved for occupancy by the individuals of low and moderate income as provided in the Code. - 5 - Section 5. Prior to issuance of any bonds for the Project as may hereafter be approved pursuant to an appropriate resolution or resolutions of the City. the Developer shall provide for the recordation of a covenant running with the land in a form approved by the City Attorney of the City whereunder the Developer waives any claim under state law to a density bonus, as defined by Government Code Sections 65915 and 65915.5. for the property on which the Project is to be constructed. Section 6. Adoption of this Resolution shall not be construed as approval of the plans or concept of the proposed development, nor as an indication that the Mayor and Common Council will hereafter take any particular action toward granting any planning, zoning. or other approval relating to a plan of development. The Mayor and Common Council reserves its right to evaluate any future adminstrative procedures and appeals based solely on the information available at the time of consideration, including any actions or recommendations by or appeals from the Development Review Committee and the Planning Commission. Nothing herein shall be construed as advance commitment or approval as to any such matter, and the Developer is hereby notified that normal planning processing shall be required, in accordance with the standard procedures of the City and that Developer will be required to comply with all applicable laws and ordinances of the City, State and federal government. - 6 - Section 7. This adoption. I HEREBY CERTIFY that adopted by the Mayor and San Bernardino at a reqular , A+h day of 1\I1"\"~mhcr , 1985, AYES: Council Members NAYS: ABSENT: Resolution shall take effect upon the foregoing resolution was duly Common Counci 1 of the City of meeting thereof, held on the by the following vote, to wit: Estrada, Reilly, Hernandez, Marks, Quiel, Frazier, Strickler None None ~4A{b City Clerk of The foregoing resolution is hereby approved this NOVAmhAr , 1985. -<'~ day Approved as to form: ~#&U/d" City Attorney f:.~ ~ 7# < Co&#- Mayor 'f the City of San Bernardino - 7 - EXHIBIT "A" NOTICE OF PUBLIC HEARING BY THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN BERNARDINO, CALIFORNIA, FOR A CERTAIN MULTIFAMILY MORTGAGE REVENUE BOND FINANCING AND THE ISSUANCE BY THE CITY OF MULTIFAMILY MORTGAGE REVENUE REVENUE BONDS IN CONNECTION THEREWITH (DEL ROSA GARDENS PROJECT) NOTICE IS HEREBY GIVEN that a public hearing shall be conducted by the Mayor and Common Council of the City of San Bernardino, California (the "Mayor and Common Council") on Monday, December 2, 1985, at the hour of 11:00 A.M., in the Council Chambers, City Hall, 300 North "0" Street, San Bernardino, California 92418, for the purpose as hereinafter set forth. The purpose of said public hearing is to consider a proposal by ELMWOOD DEL ROSA, a partnership, a California limited partnership in the process of formation, or its successors or assigns (the "Developer"), in accordance with Section 103(k) of the Internal Revenue Code of 1954, as amended, for the City of San Bernardino, California (the IICity"), to provide certain industrial development revenue bond financing by the issuance of multifamily mortgage revenue bonds for the "Del Rosa Gardens Project" which Project shall consist of the acquisition of land and the construction thereon in one or more phases of a two hundred (200) unit senior citizen multifamily rental and congregate housing development which is to be constructed on an approximately four and one half (4.5) acre parcel bounded on the north by Highland Avenue, on the west by Del Rosa Avenue, on the south by Rosa Avenue and the east by Elmwood Road and shall consist of an appropriate mix of - 1 - one-bedroom, one-bath senior citizen rental units and congregate units, on-site vehicle parking spaces, laundry and recreational rooms, appurtenant landscaping and other improvements, recreation rooms, appurtenant landscaping and other improvements. The City intends to issue its multifamily mortgage revenue bonds pursuant to Ordinance No. 3815, as amended. The financing for this Project shall be derived from the issuance of tax-exempt bonds in a maximum principal amount presently estimated not to exceed Eleven Million Four Hundred Thousand Dollars ($11,400,000). The City intends to issue its bonds pursuant to Ordinance No. 3815, as amended, in an amount presently estimated not to exceed $11,400,000 for the financing thereof without any liability to the City whatsoever. All persons interested in the subject matter and the publ~c purposes and pUblic benefits and the issuance by the City, of multifamily mortgage revenue revenue bonds in an estimated principal amount not to exceed $11,400,000 in connection with the Project may attend sucp hearing andlor file their written comments thereto. 1985. NOTICE GIVEN as of this day of City Clerk of the City of San Bernardino, California To be published in The Sun on 11/14185 and 11/21/85 - 2 -