Resolution 25-010 Orchard Vista SHA Revenue BondsCITY OF SPOKANE VALLEY
SPOKANE COUNTY, WASHINGTON
RESOLUTION NO. 25-010
A RESOLUTION OF THE CITY OF SPOKANE VALLEY, SPOKANE
COUNTY, WASHINGTON, APPROVING THE ISSUANCE BY THE
SPOKANE HOUSING AUTHORITY OF ITS MULTIFAMILY REVENUE
NOTE (ORCHARD VISTA APARTMENTS PROJECT), SERIES 2025;
AND PROVIDING FOR OTHER MATTERS PROPERLY RELATING
THERETO.
WHEREAS, the City of Spokane Valley, Washington (the "City") is a noncharter code
city duly organized and existing under and by virtue of the Constitution and the laws of the State
of Washington; and
WHEREAS, the Spokane Housing Authority (the "Authority"), a public body corporate
and politic of the State of Washington, intends to issue its Multifamily Revenue Note (Orchard
Vista Apartments Project), Series 2025 (the "Note"), in the principal amount of not to exceed
$35,000,000 and to loan the proceeds thereof to SHA Appleway LLLP, a Washington limited
liability limited partnership (the `Borrower"), of which the Authority is a general partner, in
connection with the acquisition, construction and equipping of 240-unit multifamily apartment
complex to be located at 9910 E Appleway Boulevard, Spokane Valley, Washington 99206 (the
"Project"), and the payment of issuance costs with respect to the Note; and
WHEREAS, a public hearing was held by the Authority pursuant to the requirements of
Section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code"), with respect to
the Project and the plan of finance with respect to the Note on April 28, 2025, in Spokane,
Washington, following timely notice being published on the Authority's website; and
WHEREAS, the City Council has received a written summary of any public testimony
from the hearing with respect to the Project and the plan of finance with respect to the Note; and
WHEREAS, the City Council is the elected legislative body of the City with respect to
the approval of the Note for purposes of Section 147(f)(2)(A)(ii) of the Code.
NOW, THEREFORE, IT IS HEREBY FOUND, DETERMINED AND ORDERED as
follows:
Section 1. Pursuant to the request of the Authority, the City Council hereby approves
the plan of finance for the issuance by the Authority of the Note, the proceeds of which will be
loaned to the Borrower to finance the Project located in the City of Spokane Valley.
This approval is intended to comply with the requirements of Section 147(f)(2)(A)(ii) of
the Code in order to permit the issuance of the Note. In providing this approval, the City shall
take no financial responsibility and incur no financial liability with respect to the Authority's
issuance or repayment of the Note.
Section 2. This resolution shall take effect immediately upon its passage and
approval.
ADOPTED by the City Council on May 6, 2025.
ATTEST:
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Marci atterson, City Clerk
CITY OF SPOKANE VALLEY,
WASHINGTON
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Pam Haley, Mayor
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