2 weeks Ago By By Rebecca Wasik, Enterprise staff writer
On Tuesday, the Davis City Council conducted a TEFRA (Tax Equity and Fiscal Responsibility Act) hearing for the University Retirement Community at Davis. The council unanimously adopted resolutions approving the issuance of the Bonds by the California Municipal Finance Authority (CMFA) for the benefit of University Retirement Community at Davis, Inc., to provide for the financing and refinancing of rehabilitation, equipment, construction and improvement, as well as a Subordination Agreement in favor of U.
S. Bank Trust Company, National Association as Master Trustee. These bonds to be issued by the CMFA for the project will be the sole responsibility of the borrower.
The city will have no financial, legal, moral obligation, liability or responsibility for the project or the repayment of the bonds. Bonds, in an aggregate principal amount not to exceed $102,000,000, will be used to refund all or a portion of the California Statewide Communities Development Authority Revenue Refunding Bonds, Series 2013; finance capital projects and improvements at the corporation’s existing retirement community, and finance, or reimburse prior expenditures related to, the construction, development, improvement, equipping and furnishing an expansion retirement community of the corporation; fund a debt service reserve fund, if required; finance a swap termination payment and; pay certain costs of issuance of the Bonds, including credit enhancement costs, if applicable. Also unanimously approved by the council was a resolution directing city staff to submit the Consolidated Annual Performance and Evaluation Report (CAPER) for program year 2023 to the U.
S. Department of Housing and Urban Development (HUD). Davis received a total allocation of $1,181,515 from HUD in 2023 to implement Community Development Block Grant (CDBG) and Home Investment Partnership (HOME) programs.
As part of receiving these funds, an annual report of accomplishments and evaluation of the funded projects and programs in the form of the CAPER is created to inform citizens, government officials and community groups on how the funded activities assisted low and moderate-income residents. According to the CAPER, 899 total households were served through the CDBG program. 45 victims of domestic violence were aided, 582 elderly were assisted to live independently, 652 individuals were provided fair housing services, 582 were provided senior services and 291 individuals were provided access to health care.
Services were also provided to individuals who are homeless, both in terms of homeless prevention and public service activities. Valley Clean Energy Executive Officer Mitch Sears gave an informational only presentation to the council on the efforts and programs of VCE. This same presentation was given to the Yolo County Board of Supervisors back in July .
The month of September was recognized by the council as Suicide Prevention Month. Diane Sommers was also recognized for her work and advocacy in Suicide Prevention Awareness. Sept.
15 through Oct. 15 was recognized as National Hispanic Heritage Month. October was proclaimed National Breast Cancer Awareness Month and Thriving Pink was acknowledged for its local efforts.
October was recognized as National Bullying Prevention Month. A proclamation in appreciation was also given to Dos Coyotes and the Davis Live Music Collective for their contributions to the city’s 4th of July community celebration. The Davis City Council will next meet on Oct.
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