Citizen Portal
Sign In

Lifetime Citizen Portal Access — AI Briefings, Alerts & Unlimited Follows

Get Lifetime Access

Council approves TEFRA hearing resolution so Forward Housing can pursue $25M tax‑exempt financing

Hanford City Council · April 21, 2026

Loading...

AI-Generated Content: All content on this page was generated by AI to highlight key points from the meeting. For complete details and context, we recommend watching the full video. so we can fix them.

Summary

Hanford council held and approved a TEFRA hearing to allow the California Municipal Finance Authority to issue up to $25 million in tax‑exempt bonds for Forward Housing’s Kings Garden Apartments; staff and the issuer confirmed the city will have no repayment obligation.

The Hanford City Council on April 21 held a Tax Equity and Fiscal Responsibility Act (TEFRA) hearing and adopted a resolution allowing the California Municipal Finance Authority (CMFA) to issue tax‑exempt bonds of up to $25 million to finance acquisition and rehabilitation of the Kings Garden Apartments at 1224 Fernaut Way.

Staff explained that the CMFA would issue the debt for Forward Housing and that the borrower—not the city—would be responsible for repayment. Travis Cooper of the CMFA confirmed for the council that the city would have no liability from the issuance. The council approved the resolution after brief questions and no public opposition.

The council’s action satisfied BEAR requirements under federal tax law and California Government Code procedures for a TEFRA hearing; any financing agreements remain between the borrower and the issuer, and staff said the city will bear no cost or legal obligation related to repayment.