Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Tefra North Bay Bonds topic
No spam. Unsubscribe anytime.
Board approves TEFRA resolution clearing path for North Bay to buy local health clinics
Summary
The board held a public hearing and approved a TEFRA resolution allowing the California Municipal Finance Authority to issue up to $20 million in tax‑exempt revenue bonds to finance North Bay Group’s purchase and improvement of three health facilities in Solano County and one in Winters.
The Solano County Board of Supervisors on August 2025 held a Tax Equity and Fiscal Responsibility Act (TEFRA) public hearing and approved a resolution allowing the California Municipal Finance Authority (CMFA) to issue up to $20 million in tax‑exempt revenue bonds for HealthCorps/ North Bay operations.
Why it matters: The bonds will let North Bay Group and affiliated entities refinance acquisition and improvement costs for three Solano County facilities (2458 Hillborn and 2460 Hillborn in Fairfield; 327 Main Street in Rio Vista) and one in Winters. County staff emphasized Solano County bears no financial obligation for issuance or repayment.
What happened in the hearing - Denise Dix, assistant treasurer‑tax collector, presented the TEFRA hearing materials and said the county would have no legal or financial obligation for the bonds. - Jared Suzuki, speaking for CMFA, described CMFA as a joint powers authority that issues tax‑exempt debt for projects like these and reiterated the county does not assume repayment responsibility. - Chris Matthews, a North Bay executive, said about “76 percent of our patients are either Medi‑Cal, Medicare, Medicaid” and warned that reimbursement cuts tied to federal/state changes would affect the health system’s bottom line.
Public comment and questions - A member of the public asked whether California Forever was connected to the Rio Vista property; North Bay’s representative said North Bay had purchased the buildings from California Forever and used bond proceeds to help buy out prior leases and pay for improvements. - A public speaker urged more public disclosure about the out‑of‑state nonprofit ownership used in a portion of the financing structure; staff said the TEFRA hearing is limited to the tax‑exempt financing determination and that the issuing authority and borrowers retain responsibility for the debt.
Board action The board approved the resolution and the issuance of the bonds by a 5‑0 vote.
Ending County staff said the bond issuance does not change the county’s legal liability; representatives from North Bay and CMFA were present to answer questions after the vote.
