2020-285-Order No. 2020-043 Recorded 8/6/2020VIEWED Recorded in Deschutes County CJ2020-285
Nancy Blankenship, County Clerk 0
Commissioners' Journal $/06/2020 8:38:41 AM
LEGAL COUNSEL 11OUR
I�' I I �I I II"I I� I I�I I II I I I II'II
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2020-285
BEFORE THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES COUNTY, OREGON
An Order Approving the issuance of Revenue
Bonds By the Central Oregon Regional
Housing Authority, DBA Housing Works,
and Approving the Project to be Financed
with Such Bonds in Deschutes County in a
Principal Amount not to Exceed $7,500,000
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* ORDER NO.2020-043
*
*
WHEREAS, the Board of County Commissioners of Deschutes County, Oregon (the
"Commissioners") has received a request from the Central Oregon Regional Housing Authority, dba
Housing Works (the "Authority"), to approve of the issuance by the Authority of tax-exempt revenue
bonds (the "Bonds"), the proceeds of which, in an aggregate principal amount not to exceed
$7,500,000, will be used to finance the Project (as defined below) located in Deschutes County,
Oregon (the "County"); and
WHEREAS, the proceeds of the Bonds will be used to finance or reimburse the costs of,
acquiring, constructing and equipping a 47-unit multi -family apartment project to be known as the
Midtown Place Apartments, located at 736 NW 5th Street in Redmond, Oregon (the "Project"); and
WHEREAS, the Project financed by the proceeds of the Bonds will be owned by Midtown
Place LLC, an Oregon limited liability company of which the Authority is the managing member; and
WHEREAS, the Commissioners have been advised that the principal of and interest on the
Bonds will not constitute a debt or obligation of the County, nor will the Bonds be payable from a tax
of any nature levied upon any property within the County nor any other political subdivision of the
State of Oregon. By approving the Project and the issuance of the Bonds, the Commissioners are not
incurring and will not incur any liability for the repayment of the Bonds. The Bonds will be payable
only from the revenues and resources provided by the Authority; and
WHEREAS, on July 31, 2020, the Authority conducted a public hearing, adequate notice of
this hearing having been published pursuant to Section 147(f) of the Internal Revenue Code of 1986
(the "Code"), to provide a reasonable opportunity for members of the public to express their views
regarding the issuance of the Bonds and the use and purpose of the proceeds of the Bonds; and
WHEREAS, a copy of the Hearing Officer's Report to the Commissioners, completed by the
Authority at the time of the public hearing, has been submitted to the Commissioners; and
PAGE 1 of 2- ORDER No. 2020-043
WHEREAS, Section 147(f) of the Code requires that the Bonds be approved by the applicable
elected representatives of (i) the governmental unit issuing such Bonds, and (ii) the governmental unit
having jurisdiction over the area in which the Project is located; and
WHEREAS, the Commissioners, as the applicable elected representatives of the governmental
unit having jurisdiction over the Authority (through its power to appoint certain members of the Board
of Commissioners of the Authority) and jurisdiction over the area in which the Project is located, finds
that it is in the best interest of the County to approve of the issuance of the Bonds by the Authority for
the purpose of financing the Project pursuant to the requirements of Section 147(f) of the Code; and
now therefore,
THE BOARD OF COUNTY COMMISSIONERS OF DESCHUTES COUNTY, OREGON,
hereby ORDERS as follows:
Section 1. As the applicable elected representatives of the governmental unit having
jurisdiction over the Authority and over the area in which the Project is located, and having concluded
that a public hearing was validly held to provide a reasonable opportunity for members of the public to
express their views regarding the issuance of the Bonds and the uses and purposes of the proceeds of
the Bonds, the Commissioners approve of the Project and the issuance of the Bonds by the Authority.
Section 2. By approving the Project and the issuance of the Bonds, the Commissioners and
Deschutes County do not incur and will not incur any liability for the repayment of the Bonds.
Section 3. This Order is effective immediately upon passage.
Dated this of 7 , 20-; BOARD OF COUNTY COMMISSIONERS
OF DESCHUTES COUNTY, OREGON
A-k6
PATTI ADAIR, Chair
ANTHONY DeBONE, Vice Chair
PHILIP G. HENDERSON, Commissioner
PAGE 2 OF 2- ORDER No. 2020-043
HEARING OFFICER'S REPORT TO BOARD OF COUNTY COMMISSIONERS OF
DESCHUTES COUNTY, OREGON
JULY 31, 2020
On Friday, ;July 31, 2020, at 9:00 a.m., on behalf of the Central Oregon Regional Housing
Authority; dba Housing Works (the "Authority"), I conducted a public hearing by telephone, for
which a toll free telephone number was provided to the public for purposes of participating in
the public hearing,, due to Governor Kate Brown's Executive Order No. 20-12 issued on
March 23, 2020 restricting public gatherings in response to the COVID-19 outbreak, regarding
the proposed issuance by the Authority of one or more series of tax-exempt multi -family housing
revenue bonds (the `Bonds"). The proceeds of the Bonds will be used to finance the costs of
acquiring, constructing and equipping a 47-unit multi -family apartment project to be known as
the Midtown Place Apartments, located at 736 NW 5t1i Street in Redmond, Oregon (the
"Project"), owned by Midtown Place LLC, whose sole member is the Authority. The total
amount of Bonds to be issued to finance the Projects will not exceed $7,500,000.
Public notice for the hearing was published in The Bend Bulletin on Friday, July 24,
2020. A copy of the Affidavit of Publication by The Bend Bulletin for the public notice has been
provided to me and is attached hereto.
No member of the public came to the hearing, and no written comments on the proposed
issuance of the Bonds were submitted either prior to the hearing or at the hearing. I closed the
hearing at 9:05 a.m.
Dated as of July 31, 2020
Bearing fficer
David Brandt
Executive Director
Housing Works
4163-3022-2374
AGENDA REQUEST & STAFF REPORT
For Board of Commissioners BOCC Monday Meeting of August 3, 2020
DATE: July 27, 2020
FROM: Tom Anderson, Administrative Services, 541-388-6565
TITLE OF AGENDA ITEM:
Consideration of Board Signature of Order 2020-043, Approving the Issuance of Revenue
Bonds by Central Oregon Regional Housing Authority, Dba Housing Works
BACKGROUND AND POLICY IMPLICATIONS:
Housing Works wants to secure bond revenue to finance the costs of acquiring, constructing and equipping a 47-
unit multi -family apartment project in the City of Redmond, to be known as the Midtown Place Apartments. The
project is located at 736 NW 5tn Street. The project is owned by Midtown Place LLC, whose sole member is the
Housing Authority. The total amount of Bonds to be issued to finance the project will not exceed $7,500,000.
The bond transaction will be handled by the Orrick law firm in Portland. IRC 147(f) mandates that the Housing
Authority conduct a noticed public hearing. That hearing will take place at 9:00am, on July 315t. Thereafter, the
Housing Authority will forward the Hearings Officer's report to the Board of County Commissioners. The County
Commissioners may then consider Order No. 2020-043. This process is consistent with the requirements of ORS
Chp. 456 which expressly provides that "the bonds ... of an Authority shall not be a debt of ... county ... nor, in any
event, shall such bonds ... be payable out of any funds or properties other than those of the Housing Authority".
FISCAL IMPLICATIONS:
None to Deschutes County
ATTENDANCE: County Administrator Tom Anderson, County Counsel Dave Doyle, Housing
Works, and Orrick Law Firm