Public hearing on financing for Palm Desert Family Housing project.

NOTICE OF PUBLIC HEARING
NOTICE IS HEREBY GIVEN that on April 23, 2026, a public hearing as required by Section 147(f) of the Internal Revenue Code of 1986 (the "Code"), with respect to a proposed plan of financing providing for the issuance by the California Municipal Finance Authority (the "Authority") of exempt facility bonds for a qualified residential rental project pursuant to Section 142(a)(7) of the Code in one or more series issued from time to time, including bonds issued to refund such exempt facility bonds in one or more series from time to time, in an amount not to exceed $80,000,000 in aggregate principal amount (the "Bonds"). The proceeds of the Bonds will be used to: (1) finance or refinance the acquisition, construction, improvement and equipping of Palm Desert Family Housing, a multifamily rental housing project located at the northwest corner of Cook Street & Frank Sinatra Drive (APN 694-200-021), Palm Desert, California; and (2) pay certain expenses incurred in connection with the issuance of the Bonds. The facilities are to be owned by Sinatra Family Housing, L.P. (the "Borrower") or a partnership of which Affirmed Housing Group, Inc. (the "Developer") or a related person to the Developer is the general partner.
The Bonds and the obligation to pay principal of and interest thereon and any redemption premium with respect thereto do not constitute indebtedness or an obligation of 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 therefor and generally representing amounts paid by the Borrower.
The hearing will commence at 4:00 p.m. or as soon thereafter as the matter can be heard, and will be held in the City Council Chamber, 73-510 Fred Waring Drive, Palm Desert, California . 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, prior to the time of the hearing, submit written comments.
Additional information concerning the above matter may be obtained from and written comments may be submitted by 10:00 a.m. on the day of the hearing by email to CouncilMeetingComments@cityofpalmdesert.org or mail to City Clerk, City of Palm Desert, 73-510 Fred Waring Drive, Palm Desert, California 92260.
Dated: April 16, 2026
April 16 2026
LYRK0496568