HomeMy WebLinkAbout2018-2531
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
RESOLUTION NO. 2018-253
RESOLUTION OF THE MAYOR AND CITY COUNCIL OF THE CITY OF SAN
BERNARDINO, CALIFORNIA, PURSUANT TO SECTION 147(F) OF THE INTERNAL
REVENUE CODE OF 1986 APPROVING THE ISSUANCE OF BONDS BY THE
HOUSING AUTHORITY OF THE COUNTY OF SAN BERNARDINO FOR THE
ARROWHEAD GROVE PHASE II & III PROJECT
WHEREAS, the Housing Authority of the County of San Bernardino (the "Authority")
intends to issue not to exceed $60,000,000 aggregate principal amount of multifamily housing
revenue bonds (the "Bonds") to finance the acquisition, construction and equipping of a 184 unit
multifamily rental housing development to be located at the Southeast corner of Waterman
Avenue and Baseline Street, in the City of San Bernardino, County of San Bernardino, California
described in the notice of public hearing attached as Exhibit A hereto (the "Project"); and
WHEREAS, in order for interest on the bonds to be tax-exempt, Section 147(f) of the
Internal Revenue Code of 1986 requires that the Bonds be approved by the City Council as the
applicable elected representatives after a public hearing following reasonable public notice; and
WHEREAS, notice of a public hearing with respect to the proposed issuance of the
bonds was published in a newspaper of general circulation in the City on August 4, 2018; and
WHEREAS, the public hearing was held on the date hereof, and an opportunity was
provided for interested persons to express their views on the issuance of the Bonds and on the
nature and location of the Project.
BE IT RESOLVED BY THE MAYOR AND CITY COUNCIL OF THE CITY OF
SAN BERNARDINO AS FOLLOWS:
SECTION 1. The City does not warrant the creditworthiness of the Bonds or guarantee,
in any way, the payment of the Bonds. No moneys of the City will be pledged or applied to the
repayment of the Bonds or make any representations with respect to the Bonds.
1
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
SECTION 2. This City Council, as the applicable elected representatives under Section
147(f) of the Code, approves the issuance of the Bonds by the Authority with respect to the
Project.
///
///
///
HI
///
///
///
///
///
///
///
///
///
2
1
2
3
4
5
6
7
8
9
to
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
RESOLUTION OF THE MAYOR AND CITY COUNCIL OF THE CITY OF SAN
BERNARDINO, CALIFORNIA, PURSUANT TO SECTION 147(F) OF THE INTERNAL
REVENUE CODE OF 1986 APPROVING THE ISSUANCE OF BONDS BY THE
HOUSING AUTHORITY OF THE COUNTY OF SAN BERNARDINO FOR THE
ARROWHEAD GROVE PHASE II & III PROJECT
I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Mayor and
City Council of the City of San Bernardino at a Joint Regular Meeting thereof, held on the 5h day
of September 2018, by the following vote, to wit:
Council Members: AYES
MARQUEZ
BARRIOS
VALDIVIA
SHORETT
NICKEL
RICHARD
MULVIHILL
NAYS ABSTAIN ABSENT
Georgeann Ffanna, CM , City Clerk
The foregoing Resolution is hereby approved this 5a' day of September 2018.
/�) d
, f""
R. Carey Davi, Mayor
City of San Bernardino
Approved as to form:
Gary D. Saenz, City Attorney
CALIFORNIA NEWSPAPER SERVICE BUREAU
DAILY JOURNAL CORPORATION
Mailing Address: 915 E FIRST ST, LOS ANGELES, CA 90012
Telephone (800) 788-7840 / Fax (800) 464-2839
Visit us @ www.LegalAdstore.com
Candice Alvarez
SAN BERNARDINO CITY CLERK
300 NORTH D ST., 2ND FLR
SAN BERNARDINO, CA 92418
COPY OF NOTICE
Notice Type: HRGSB NOTICE OF HEARING -SB
Ad Description NOTICE OF PUBLIC HEARING
To the right is a copy of the notice you sent to us for publication in the SAN
BERNARDINO COUNTY SUN. Please read this notice carefully and call us
with any corrections. The Proof of Publication will be filed with the County
Clerk, if required, and mailed to you after the last date below. Publication
dates) for this notice is (are):
08/0412018
The charge(s) for this order is as follows. An invoice will be sent after the last
date of publication. If you prepaid this order in full, you will not receive an
invoice.
Publication
Total
V�IIIIIIIIIIIII�NIIYIII�VWI�I�IVII�I�
SBS# 3159864
NOTICE OF PUBLIC HEARING
NOTICE IS HEREBY GIVEN that the
City Council of the City of San
Bernardino on Wednesday September
5, 2018, at the hour of 5:00 p.m. at the
City of San Bernardino Council
Chambers, 201 North "E" Street, San
Bernardino, California, will hold a
public hearing in accordance with
Section 147((f) of the Internal Revenue
Code of 19$6 with respect to the
proposed issuance by the Housing
Authority of the County of San
Bernardino of its multifamily housing
revenue bonds in an aggregate
principal amount not to exceed
$60,000,000, in order to finance the
acquisition, construction and equipping
of a 184 -unit multifamily rental housing
development and a functionally related
and subordinate multi-purpose
community building, to be located on
approximately eight acres of property
at the Southeast corner of Waterman
Avenue and Baseline Street, in the
City of San Bernardino, County of San
Bernardino, California, described
below:
Name: Arrowhead Grove Phase II & III
Location: Southeast corner, Waterman
Avenue and Baseline Street, San
Bernardino, CA
Number of Units: 184
Maximum Bond Amount:$60,000,000
$200.20 The owner or operator of the Project
will be a limited partnership of which
$200.20 National Community Renaissance of
California, a California nonprofit public
benefit corporation ("National CORE"),
or an affiliate of National CORE, will be
the managing general partner. A total
of not less than 146 units in the project
are to be income and rent restricted
with such 76 units to be occupied by
families at or below very low-income at
affordable rents. However, due to tax
credits or other considerations, the
number of income and rent restricted
units may be increased.
Notice is further given that at said
hearing all interested parties will have
an opportunity to be heard on the
question of whether or not such
multifamily housing revenue bonds
should be issued. If you have any
questions regarding the public hearing,
please contact Kathy Brann, Economic
Development and Housing Director, at
909 384-7257.
814/18
SBS -3159864#