Supervisor Alejo: NAY
Supervisor Phillips: AYE
Supervisor Lopez: AYE
Supervisor Root Askew: NAY
Chair Supervisor Adams: AYE
Motion carried 3 to 2
General Public Comments
16.
17.
General Public Comments
Open for general public comments for items not on today's agenda; Lorna Mofett, via Zoom, and
Eric Peterson, in person, commented.
Scheduled Matters
a. Hold a public hearing in compliance with the Tax Equity and Financial Responsibility Act of 1982
(TEFRA) and the Internal Revenue Code of 1986, as amended, regarding the issuance by the
California Municipal Finance Authority (CMFA) of tax-exempt revenue bonds to finance and refinance
the construction, equipping, improvement, renovation, rehabilitation and remodeling of senior living and
related facilities, including the renovation, equipping and furnishing of certain sewer infrastructure,
known as Carmel Valley Manor (collectively, the Project);
b. Adopt a resolution approving the issuance, for federal income tax purposes, of revenue bonds, in the
aggregate principal amount not to exceed $37,500,000, by the CMFA for the benefit of Northern
California Congregational Retirement Homes, Inc., doing business as Carmel Valley Manor (the
Manor) and Carmel Valley Manor Foundation (the Foundation and, together with the Manor, the
Borrowers) to finance the Project; and
c. Determine that the above actions involve government funding mechanisms and/or fiscal activities and
are not a project under the California Environmental Quality Act (CEQA), pursuant to Section
15378(b)(4) of the CEQA Guidelines.
Public hearing commenced.
Juan P. Lopez, Principal Administrative Analyst, Jay A. Zimmer President and CEO of Carmel
Valley Manor and Anthony Stubbs, Financial Advisor at California Municipal Finance Authority.
Open for public comments; no public comments made.
A motion was made by Supervisor John M. Phillips, seconded by Supervisor Luis A. Alejo to:
a. Hold a public hearing in compliance with the Tax Equity and Financial Responsibility Act of
1982 (TEFRA) and the Internal Revenue Code of 1986, as amended, regarding the issuance by the
California Municipal Finance Authority (CMFA) of tax-exempt revenue bonds to finance and
refinance the construction, equipping, improvement, renovation, rehabilitation and remodeling of
senior living and related facilities, including the renovation, equipping and furnishing of certain
sewer infrastructure, known as Carmel Valley Manor (collectively, the Project);
b. Adopt Resolution No. 22-179 approving the issuance, for federal income tax purposes, of
revenue bonds, in the aggregate principal amount not to exceed $37,500,000, by the CMFA for the
benefit of Northern California Congregational Retirement Homes, Inc., doing business as Carmel
Valley Manor (the Manor) and Carmel Valley Manor Foundation (the Foundation and, together
with the Manor, the Borrowers) to finance the Project; and
c. Determine that the above actions involve government funding mechanisms and/or fiscal
activities and are not a project under the California Environmental Quality Act (CEQA), pursuant to