DATE:
April 26, 2022
36
TO:
Board of Supervisors
SUBJECT
Title
NOTICED PUBLIC HEARING:
ISSUANCE OF REVENUE OBLIGATIONS BY THE CALIFORNIA PUBLIC FINANCE AUTHORITY FOR THE BENEFIT OF CENTRO DE SALUD DE LA COMUNIDAD DE SAN YSIDRO, INC. (DBA SAN YSIDRO HEALTH) IN AN AGGREGATE MAXIMUM AMOUNT NOT TO EXCEED $28,000,000 (DISTRICT: 1)
Body
OVERVIEW
The County has received a request from the California Public Finance Authority ("CalPFA" or "Authority") to conduct a public hearing as required by the Internal Revenue Code and to approve the Authority's issuance of one or more series of revenue obligations in an aggregate principal amount not to exceed $28,000,000 (the "Obligations"), for the benefit of Centro de Salud de la Comunidad de San Ysidro, Inc. dba San Ysidro Health, a California non-profit community health center (the "Borrower" or "SYH"). The Borrower has applied for the financial assistance of the Authority. The proceeds of the Obligations will be used to finance, refinance and/or reimburse the cost of the acquisition, construction, improvement, equipping and furnishing of facilities, including but not limited to (1) an approximately 23,780 square foot, one-story medical office building occupied and used by the Corporation to operate a Program of All-Inclusive Care for the Elderly (PACE) located at 880 Third Avenue, Chula Vista, California 91911; (2) a community health clinic known as the Maternal & Child Health Center located at 4050 Beyer Boulevard, San Ysidro, California 92173; and (3) a community health clinic known as San Ysidro Health San Diego PACE/Senior Health Services located at 3364 Beyer Boulevard, San Ysidro, California 92173 (collectively, the "Project"). A portion of such proceeds of the Obligations will be used to pay the costs of issuance and other related costs in connection with the financing.
The Authority is authorized to assist in financing for nonprofit public benefit organizations or for-profit corporations with a public ...
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