NOTICE OF PUBLIC HEARING
NOTICE IS HEREBY GIVEN that on November 25, 2025, a public hearing as required by Section 147(f) of the Internal Revenue Code of 1986 will be held with respect to a proposed plan of finance of the California Municipal Finance Authority (the "Authority") to issue and reissue from time to time, one or more series of revenue bonds in an outstanding principal amount not to exceed $50,000,000 (the "Bonds"), to finance and refinance the acquisition, construction, development and equipping of a 79-unit qualified residential rental project located at 914-930 7th Street (the "Project") in the City of Modesto, California (the "City"). The Project is to be owned and operated by Seventh Street Village LP, a California limited partnership, or by another ownership entity to be created by its general partner, VHB Seventh Street Village LLC, a California limited liability company, or by another affiliate of such general partner's sole member, Visionary Home Builders of California, Inc., a California nonprofit public benefit corporation (such limited partnership or other ownership entity, the "Borrower").
The Bonds and the obligation to pay principal thereof and interest thereon and any redemption premium with respect thereto do not constitute indebtedness or an obligation of the City, the Authority, the State of California or any political subdivision thereof, within the meaning of any constitutional or statutory debt limitation, or a charge against the general credit or taxing powers of any of them. The Bonds shall be limited obligations of the Authority, payable solely from certain revenues duly pledged therefor and generally representing amounts paid by the Borrower.
The public hearing will commence at 5:30 p.m., or as soon thereafter as the matter can be heard, as part of the open session of the City Council meeting in the City Council Chambers, Tenth Street Place, 1010 10th Street, Modesto, California 95354. Interested persons wishing to express their views on the proposed plan of finance or on the nature and location of the facilities proposed to be financed may attend the hearing or, prior to the time of the hearing, submit written comments via email to ccmodesto@modestogov.com by 3:30 p.m. on the day of the hearing.
Additional information concerning the above matter may be obtained from, and written comments should be addressed to, City Clerk, City of Modesto, Tenth Street Place, 1010 10th Street, 6th Floor, Modesto, California 95354.
Dated: [11/16/2025]
IPL0288916
Nov 16 2025