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RESOLUTION NO. 2021-012
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA APPROVING THE ISSUANCE, SALE AND
DELIVERY OF MULTIFAMILY HOUSING REVENUE NOTES
OF THE CHULA VISTA HOUSING AUTHORITY FOR
COLUMBA APARTMENTS
WHEREAS, the Chula Vista
exceed $60,000,000 aggregate principal amount of multifamily housing revenue notes (the
Notescosts of developing a 200-unit multifamily rental housing project known
as Columba Apartments located at the Northwest Corner of Solstice Avenue and Optima Street
within the Millenia (formerly known as the Eastern Urban Center) master planned community (the
he City of Chula Vista, California
WHEREAS, the Project will be owned and/or operated by Millenia II CIC, LP, or another
limited partnership affiliated with Chelsea Investment Corporation
WHEREAS, pursuant to Section 147(f) of the Internal Revenue Code of 1986, as amended
Notes 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; and
WHEREAS, the Project is located wholly within the geographic jurisdiction of the City;
and
City; and
WHEREAS,
used to inform residents about such events such as public meetings located at
https://www.chulavistaca.gov/departments/mayor-council/council-meeting-agenda and
https://www.chulavistaca.gov/departments/development-services/planning/public-notices/public-
notices on December 21, 2020 informing the public that a public hearing would be held by the
-248, on
December 29, 2020, regarding the issuance of Notes by the Authority, and
WHEREAS, on December 29, 2020, the
which time the public was provided an opportunity to present the arguments both for and against
the issuance of the Bonds (Notes) and no comments from the public were received at the public
hearing
Resolution No. 2021-012
Page No. 2
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Chula Vista,
as follows:
Section 1. The City Council does hereby find and declare that the above recitals are true
and correct.
Section 2. Pursuant to Section 147(f) of the Code, the City Council hereby approves
the issuance of the Notes by the Authority in one or more series, in an aggregate principal amount
not to exceed $60,000,000 and with a final maturity not later than 55 years from the date of
issuance 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 Notes
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).
Section 3. This Resolution shall take effect from and after its adoption.
\[SIGNATURES ON THE FOLLOWING PAGE\]
Resolution No. 2021-012
Page No. 3
Presented by Approved as to form by
Tiffany Allen Glen R. Googins
Director of Development Services City Attorney
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 19th day of January 2021 by the following vote:
AYES: Councilmembers: Cardenas, Galvez, McCann, Padilla, and Casillas Salas
NAYS: Councilmembers: None
ABSENT: Councilmembers: None
Mary Casillas Salas, Mayor
ATTEST:
Kerry K. Bigelow, MMC, City Clerk
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
CITY OF CHULA VISTA )
I, Kerry K. Bigelow, City Clerk of Chula Vista, California, do hereby certify that the foregoing
Resolution No. 2021-012 was duly passed, approved, and adopted by the City Council at a regular
meeting of the Chula Vista City Council held on the 19th day of January 2021.
Executed this 19thday of January 2021.
Kerry K. Bigelow, MMC, City Clerk