HomeMy WebLinkAbout2019-55 - Approving the Issuance, Sale and Delivery of Multifamily Housing Revenue Bonds of the California Statewide Communities Development Authority for Harbor Pointe Senior LivingRESOLUTION NO. 2019-55
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF NEWPORT BEACH, CALIFORNIA, APPROVING THE
ISSUANCE, SALE AND DELIVERY OF MULTIFAMILY
HOUSING REVENUE BONDS OF THE CALIFORNIA
STATEWIDE COMMUNITIES DEVELOPMENT
AUTHORITY FOR HARBOR POINTE SENIOR LIVING
WHEREAS, the California Statewide Communities Development Authority
("Authority") intends to issue not to exceed seventy-five million dollars and 00/100
($75,000,000.00) aggregate principal amount of multifamily housing revenue bonds
("Bonds") to finance the acquisition and construction of a 99 -unit senior living multifamily
rental housing project ("Project") located at 101 Bayview Place in the City of Newport
Beach, State of California ("City");
WHEREAS, the Project will be owned and/or operated by Harbor Pointe Senior
Living, LLC, a California limited liability company ("Owner"), or an affiliate thereof;
WHEREAS, pursuant to Section 147(f) of the Internal Revenue Code of 1986, as
amended ("Code"), the Bonds are required to be approved, following a public hearing,
by an elected representative of the governmental unit having jurisdiction over the area
in which the Project is located;
WHEREAS, the Project is located wholly within the geographic jurisdiction of the
City;
WHEREAS, the City Council ("City Council") is the elected legislative body of the
City;
WHEREAS, the City has caused a notice to appear in The Daily Pilot, which is a
newspaper of general circulation in the City, on June 1, 2019 to the effect that a public
hearing would be held by the City Council on June 11, 2019, regarding the issuance of
the Bonds by the Authority;
WHEREAS, on June 11, 2019, the City Council conducted a public hearing in the
Council Chambers located at 100 Civic Center Drive, Newport Beach, at which time an
opportunity was provided to present arguments both for and against the issuance of the
Bonds. A notice of the time, place and purpose of the public hearing was given in
accordance with the Newport Beach Municipal Code, the Ralph M. Brown Act, and the
Code;
Resolution No. 2019-55
Page 2 of 3
NOW, THEREFORE, the City Council of the City of Newport Beach resolves as
follows:
Section 1: The City Council does hereby approve the issuance of the Bonds,
pursuant to Section 147(f) of the Code, by the Authority in one or more series, in an
aggregate principal amount not to exceed seventy-five million dollars and 00/100
($75,000,000.00) to finance the acquisition, construction and equipping of the Project. It
is the purpose and intent of the City Council that this Resolution constitutes approval of
the issuance of the Bonds by the applicable elected representative of the governmental
unit having jurisdiction over the area in which the Project is located, in accordance with
said Section 147(f).
By approving the issuance of the Bonds by the Authority pursuant to Section
147(f) of the Code, the City is not undertaking any obligation or liability whatsoever for
the issuance or repayment of the Bonds. In no event shall the City be liable for the
payment of the principal of or interest on the Bonds, or for performing any obligation of
any kind whatsoever with respect to the Bonds.
Section 2: The recitals provided in this resolution are true and correct and are
incorporated into the operative part of this resolution.
Section 3: If any section, subsection, sentence, clause or phrase of this
resolution is, for any reason, held to be invalid or unconstitutional, such decision shall
not affect the validity or constitutionality of the remaining portions of this resolution. The
City Council hereby declares that it would have passed this resolution, and each
section, subsection, sentence, clause or phrase hereof, irrespective of the fact that any
one or more sections, subsections, sentences, clauses or phrases be declared invalid
or unconstitutional.
Section 4: The City Council finds the adoption of this resolution is not subject to
the California Environmental Quality Act ("CEQA") pursuant to Sections 15060(c)(2) (the
activity will not result in a direct or reasonably foreseeable indirect physical change in
the environment) and 15060(c)(3) (the activity is not a project as defined in Section
15378) of the CEQA Guidelines, California Code of Regulations, Title 14, Division 6,
Chapter 3, because it has no potential for resulting in physical change to the
environment, directly or indirectly.
Resolution No. 2019-55
Page 2of3
Additionally, the Harbor Pointe Senior Living Project Final Environmental Impact
Report (SCH No. 2016071062) was prepared for the project and certified by the City
Council in compliance with CEQA and City Council Policy K-3. By Resolution No. 2019-
13, the City Council, having final approval authority over the project, adopted and
certified as complete and adequate the Harbor Pointe Senior Living Project Final
Environmental Impact Report (SCH No. 2016071062) and adopted "Mitigation
Monitoring and Reporting Program." Resolution No. 2019-13 is hereby incorporated by
reference.
Section 5: This resolution shall take effect immediately upon its adoption by the
City Council, and the City Clerk shall certify the vote adopting the resolution.
ADOPTED this 11th day of June, 2019.
ATTEST:
PAM��W P0�T
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Leilani I. Brown \ �p
City Clerk r s
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APPROVED AS TO FORM:
CITY ATTORNEY'S OFFICE
Aarbn C. Harp
City Attorney
STATE OF CALIFORNIA }
COUNTY OF ORANGE } ss.
CITY OF NEWPORT BEACH }
I, Leilani I. Brown, City Clerk of the City of Newport Beach, California, do hereby certify that the
whole number of members of the City Council is seven; the foregoing resolution, being Resolution
No. 2019-55 was duly introduced before and adopted by the City Council of said City at a regular meeting
of said Council held on the 11'h day of June, 2019; and the same was so passed and adopted by the
following vote, to wit:
AYES: Mayor Diane Dixon, Mayor Pro Tem Will O'Neill, Council Member Brad Avery, Council
Member Joy Brenner, Council Member Duffy Duffield
NAYS: Council Member Kevin Muldoon
ABSENT: Council Member Jeff Herdman
IN WITNESS WHEREOF, I have hereunto subscribed my name and affixed the official seal of
said City this 121h day of June, 2019.
t
Leilani I. Brown
City Clerk
Newport Beach, California