NOTICE OF PUBLIC HEARING ON A...
NOTICE OF PUBLIC HEARING
ON A HOUSING PROGRAM AND THE ISSUANCE OF MULTIFAMILY HOUSING REVENUE BONDS TO FINANCE A MULTIFAMILY HOUSING DEVELOPMENT PROGRAM UNDER MINNESOTA STATUTES, CHAPTER 462C


NOTICE IS HEREBY GIVEN that the Housing Policy and Development Committee of the Minneapolis City Council, on behalf of the City of Minneapolis (the "City") will hold a public hearing on Wednesday, October 30, 2019, on or after 1:30 p.m. in the Council Chambers (Room 317) at City Hall in the City to consider a housing program for the issuance of revenue bonds under Minnesota Statutes, Chapter 462C, as amended (the "Act"), to finance a multifamily housing development in the City (the "Program"). At the public hearing, the Council will consider a resolution approving the Program and giving final approval to the issuance of revenue bonds under the Act (the "Revenue Bonds") to (i) finance the Program, (ii) refund one or more series of the Hennepin County Housing and Redevelopment Authority's multifamily housing revenue bonds or other obligations issued to finance a portion of the Program, and (iii) refund previously issued tax-exempt obligations of the City in order to allocate volume cap to the project. The face amount of the Revenue Bonds proposed to be issued to finance the Program will not exceed $32,000,000. The Bonds may be issued in one or more series of tax-exempt or taxable obligations.

The project proposed to be financed under the Program (the "Project") consists of the acquisition, construction, and equipping of an approximately 175-unit multifamily rental housing development and facilities functionally related and subordinate thereto, to be located at 854, 902, and 904 14th Avenue N.E. in the City, for occupancy by persons and families of low and moderate income (the "Project"), to be owned and operated by 14th and Central, LLLP, a Minnesota limited liability limited partnership, or its affiliates and assigns (the "Borrower"). The Revenue Bonds will be issued by the City and will be limited obligations of the City payable solely from the revenues pledged to the payment thereof. The Revenue Bonds will not constitute general or moral obligations of the City and will not be secured by the taxing powers of the City.

At said time and place all parties who appear shall be given an opportunity to express their views with respect to the Program and the proposal to issue the Revenue Bonds to finance the Program and the Project.

For sign language interpreting call 612-673-2626 TTY. For further information, please contact Jamie Radel, 612-673-5263.

Dated: October 10, 2019
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