MOTION (SOTO-MARTINEZ - JURADO) and RESOLUTION relative to the issuance of revenue bonds or notes to finance facilities located in Council District (CDs) 13 and 14 to serve individuals with mental illness.

This motion and resolution authorize the California Municipal Finance Authority (CMFA) to issue revenue bonds or notes up to a maximum of $70,000,000 to finance facilities for Gateways Hospital and Mental Health Center. The funds will be used for:

• Acquisition of a 96-bed adult mental health facility at 3455 Percy Street (CD 14).
• Acquisition and renovation of a 60-bed adult mental health facility at 1355 South Hill Street (CD 14).
• Construction of a behavioral health facility at 1891 Effie Street (CD 13).
• Financing working capital expenditures for the hospital.

This represents an increase of $10,000,000 from a previous approval to accommodate working capital needs, which are not eligible for tax-exempt treatment. The bond debt is payable solely from revenues provided by the Borrower, and the City incurs no liability for repayment.

This action will facilitate the expansion and improvement of mental health facilities in Council Districts 13 and 14, increasing capacity to serve individuals with mental illness. Residents will benefit from expanded access to critical mental health services.

high