Anaheim approves bonds to fund Tampico Motel conversion to 31 supportive units for transitional-age youth

Anaheim City Council and the Anaheim Housing Authority on separate votes approved steps to finance the conversion of the Tampico Motel into permanent supportive rental housing for transitional‑age youth.

The council adopted a resolution authorizing the issuance of multifamily housing revenue bonds under Section 147(f) of the Internal Revenue Code and held the required TEFRA hearing; the city recorded the vote as 6 ayes, no nays, with the absence of Mayor Aiken. The Anaheim Housing Authority separately approved a resolution authorizing execution of a multifamily housing revenue note “in one or more series” with an aggregate principal amount reported in the meeting record as not to exceed $30,105,723; that resolution also passed by a recorded vote of 6 ayes, no nays, with Mayor Aiken absent.

Why it matters: the action clears a major financing step for a 31‑unit conversion at 151 South Simpela Way (formerly 120 South State College Boulevard). Staff said the project combines tax‑exempt bond financing with a 4% low‑income housing tax credit allocation and local gap financing so the developer can begin construction in mid‑June, with an estimated construction period of…