Ontario council approves formation of CFD No. 72, a loan to Core Hotel Ventures and issuance of CFD No. 64 bonds

The Ontario City Council on Tuesday opened and closed public hearings on several financing and economic-development items and approved each by unanimous vote. The council approved resolutions forming Community Facilities District (CFD) No. 72 for the Loma Creek Logistics Center Services and the related levy of a special tax, authorized a loan agreement with Core Hotel Ventures LLC, and approved issuance of special-tax bonds for CFD No. 64 (Sunset Ranch), series 2024.

The city clerk stated that "notice of public hearing was given according to the Mello-Roos Act" and that the county of San Bernardino registrar of voters "has certified that there are no registered voters within the territory." With no written protests or public speakers on the CFD matter, the council proceeded to vote. Mayor Leon called for a motion; the clerk recorded motions moved by Parrada and seconded by Bowman. Each item passed by an electronic roll-call vote of 5-0.

Council members also opened a public hearing on an economic-development subsidy and loan agreement with Core Hotel Ventures LLC; no public speakers were registered, and the resolution to approve the loan passed 5-0. Later the council approved a resolution authorizing issuance of CFD No. 64 (Sunset Ranch) special-tax bonds, series 2024, again by a unanimous vote.

The actions taken establish the legal steps required to levy special taxes for CFD No. 72, direct recording of special-tax liens, and proceed with the related financing and bond issuance. The council did not receive public objections to the measures during the hearings and did not amend the proposed actions during the meeting.

What happens next: the city clerk recorded the election results for CFD No. 72 and will direct recording of the special-tax lien per the council's motion. No additional hearings or council votes on these specific items were scheduled during this meeting.