11-28-2023 TEFRA Public Hearing Notice - OrionCITY OF ORANGE
NOTICE OF PUBLIC HEARING
THE ORION
NOTICE IS HEREBY GIVEN that the City Council of the City of Orange will hold a public
hearing on Tuesday, November 28, 2023 at 6:00 p.m.,or as soon thereafter as the
matter can be heard, at the Council Chamber, 300 E. Chapman Avenue, Orange, as
required by Section 147(f) of the Internal Revenue Code of 1986, will be held with respect
to a plan of finance that includes the proposed issuance by the California Municipal
Finance Authority (the “Authority”) of its revenue bonds in one or more series in an amount
not to exceed $45,000,000 (together with a like amount of refunding bonds) (the “Bonds”).
The proceeds of the Bonds will be used to finance and refinance the acquisition,
construction, development and equipping of a 166-unit multifamily rental housing facility
for low and very low income families (the “Project”), to be located in the City of Orange,
California (the “City”), at 1800 E. La Veta Avenue, on a site generally located east of S.
Tustin Street and north and northwest of E. Fairway Drive. The Project is to be owned
and operated by Orange 702, L.P., a California limited partnership, or another ownership
entity to be created by USA Orange 702, Inc., a California corporation (or another affiliate
of USA Properties Fund, Inc., a California corporation) and Riverside Charitable
Corporation, a California nonprofit public benefit corporation (or an affiliate thereof) (such
limited partnership or other ownership entity, the “Borrower”).
The Bonds and the obligation to pay principal thereof and interest thereon and any
redemption premium with respect thereto do not constitute indebtedness or an obligation
of the City, the Authority, the State of California, or any political subdivision thereof, within
the meaning of any constitutional or statutory debt limitation, or a charge against the
general credit or taxing powers of any of them. The Bonds shall be a limited obligation of
the Authority, payable solely from certain revenues duly pledged therefore and generally
representing amounts paid by the Borrower.
The hearing will be held in the Council Chamber, City of Orange, 300 E. Chapman Avenue,
Orange, California 92866. Interested persons wishing to express their views on the
issuance of the Bonds or on the nature and location of the facilities proposed to be financed
or refinanced may attend the public hearing or submit their comments by mail, eComment,
or voicemail as set forth in the November 28, 2023, City Council agenda.
For further information, please contact Arlen Beck, Associate Planner, at 300 E. Chapman
Avenue, Orange, California 92866, by telephone at (714) 744-7272, or via email at
abeck@cityoforange.org.
Dated: November 16, 2023 CITY COUNCIL OF THE CITY OF ORANGE
PHONE (714) 744-5500 BY: PAMELA COLEMAN, CITY CLERK