Housing bonds approved for Pelican Harbor
At a glance
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The City Council/Public Financing Authority approved a $20 million tax-exempt bond issuance to refinance Pelican Harbor apartments and updated related affordable housing agreements, including a 60-year affordability covenant.
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What this means
The meeting centered on financing for Pelican Harbor apartments, formerly called Huntington Beach Senior Housing. The council approved a resolution allowing up to $20 million in tax-exempt bonds and also approved revised housing agreement documents tied to the project. One amendment changed the affordability covenant to 60 years, which means the property must stay affordable under the updated terms for that period. The vote was 4-3 on the substitute motion that passed.
Key decisions
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- Conducted the TEFRA public hearing for Pelican Harbor Apartments.
- Adopted Resolution No. 2025-65 approving up to $20,000,000 in California Municipal Finance Authority exempt facility bonds for Pelican Harbor.
- Approved the First Amendment to the Affordable Housing Agreement.
- Approved the First Amendment to the Amended and Restated Agreement Containing Covenants, as amended to set the affordability covenants for 60 years.
- Approved the First Amendment to the City HOME Promissory Note.
- Approved the First Amendment to the City Inclusionary Housing Promissory Note.
- Authorized the City Manager and Housing Authority Executive Director, or their designees, to execute the documents.
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Meeting information
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City Council/Public Financing Authority
Special Meeting - 4:00 PM Special Meeting of the Housing Authority
Agenda
- 4:00 PM - COUNCIL CHAMBERS
- CALL TO ORDER SPECIAL MEETINGS OF THE CITY COUNCIL/PUBLIC FINANCING AUTHORITY AND HOUSING AUTHORITY
- ROLL CALL
- PLEDGE OF ALLEGIANCE
- ANNOUNCEMENT OF SUPPLEMENTAL COMMUNICATIONS (Received After Agenda Distribution)
- PUBLIC COMMENTS (3-Minute Time Limit)
- PUBLIC HEARING
- Conduct a Tax and Equity Fiscal Responsibility Act (TEFRA) Public Hearing for the Pelican Harbor Apartments; Adopt Resolution No. 2025-65 Approving the Issuance of the California Municipal Finance Authority’s (CMFA) Continued Issuance of Tax-exempt Bonds in an amount not to exceed $20,000,000 for the Pelican Harbor Apartments; and Approve Amendments to Affordable Housing Agreements - continued from the October 21, 2025, City Council/Public Financing Authority Meeting/Housing Authority Special Meeting
- ADJOURNMENT
- The next regularly scheduled meeting of the Huntington Beach City Council/Public Financing Authority is Tuesday, November 4, 2025, in the Civic Center Council Chambers, 2000 Main Street, Huntington Beach, California.
- INTERNET ACCESS TO CITY COUNCIL/PUBLIC FINANCING AUTHORITY AGENDA AND STAFF REPORT MATERIAL IS AVAILABLE PRIOR TO CITY COUNCIL MEETINGS AT http://www.huntingtonbeachca.gov
- Note
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