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Council balks at Master’s University bond measure after Placerita Canyon residents raise concerns
Summary
The council declined to advance a proposed TEFRA resolution for The Master’s University’s requested tax‑exempt bonds amid resident objections about institutional purchases of canyon homes and limited local safeguards in the bond language.
Santa Clarita city officials voted down a motion to move forward with a TEFRA resolution for The Master’s University and Seminary on Tuesday after residents from Placerita Canyon and council members raised sharp questions about the university’s purchases of local homes and the lack of enforceable safeguards on bond proceeds.
Assistant to the city manager Michael Villegas explained the TEFRA hearing is a federal‑tax‑code procedural requirement related to tax‑exempt bond issuances; he told the council that adopting the resolution would not obligate the city financially. Villegas and city counsel outlined the intended uses of bond proceeds described by the California Municipal Finance Authority: refinancing costs for student housing, acquiring and refinancing…
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