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Council approves TEFRA hearing resolution for Eminent Health revenue bonds
Summary
The Glendora City Council held a TEFRA public hearing and adopted a resolution approving issuance of California Statewide Community Development Authority revenue bonds up to $90 million for Eminent Health projects in Glendora; council vote 5-0.
The Glendora City Council on June 24 opened and closed a Tax Equity and Fiscal Responsibility Act (TEFRA) public hearing and adopted a resolution approving the issuance of revenue bonds by the California Statewide Community Development Authority (CSCDA) for Eminent Health.
The action will permit CSCDA to issue up to $90,000,000 in revenue bonds to finance and/or refinance capital improvements for three projects in Glendora, including renovating an office building for administrative services, converting a building into a pediatric and OBGYN medical clinic, and upgrading systemwide technology. City staff said there is no fiscal impact to the city from the bond issuance.
Tiffany Chu, manager of economic development and housing, told the council the public notice requirement was met with publication in the San Gabriel Valley Examiner. Tony Blakely, vice president of facilities and construction for Eminent Health, said the Route 66 property will be converted to an administrative office and a separate Carroll Street site will house a pediatric clinic and OBGYN services. James Hamill of CSCDA was available virtually, staff said.
Councilmember Alawas moved to adopt the staff recommendation; Councilmember Thompson seconded. The council voted unanimously, the mayor announcing the motion carried 5-0.
The resolution authorizes CSCDA to issue bonds but does not obligate the city to repay bond debt; the city’s staff clarified the bond proceeds and repayment obligations are managed through CSCDA and the bond documents. The hearing and vote satisfied the Internal Revenue Code requirement for a TEFRA hearing and the city’s public-notice obligations.
The council did not discuss specific construction schedules during the hearing; Tony Blakely stated construction timing would proceed once Eminent Health obtained approvals and noted the Route 66 offices could begin design and, if approvals proceed, be under construction in the fall with a potential completion in the winter months following. The council’s formal action was limited to adopting the TEFRA resolution.
The ordinance and related bond documents will be prepared by CSCDA and the issuer’s counsel; staff noted additional project-level permits and planning approvals will remain subject to normal city processes.
