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Council holds TEFRA hearing and approves bond financing for Adams Avenue senior apartments
Summary
Murrieta held a Tax Equity and Fiscal Responsibility Act hearing and approved a CSCDA bond issuance to finance Phase 2 of the Oakview Ranch / Adams Avenue senior apartments project; council approved the TEFRA resolution by a 4-0 vote with Council member DeForest recused.
Murrieta — The City Council conducted a TEFRA (Tax Equity and Fiscal Responsibility Act) public hearing on Feb. 18 and approved a resolution allowing the California Statewide Communities Development Authority (CSCDA) to issue tax‑exempt bonds for the Oakview Ranch/Adams Avenue Apartments Phase 2 senior units.
Carl Steele, city planner in Development Services, presented the item and described the financing…
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