NOTICE OF TELEPHONIC PUBLIC HEARING BY THE NORTH CAROLINA HOUSING FINANCE AGENCY REGARDING THE FINANCING OF A MULTIFAMILY HOUSING DEVELOPMENT IN KANNAPOLIS, NORTH CAROLINA WITH THE PROCEEDS OF TAX-EXEMPT BONDS
NOTICE IS HEREBY GIVEN to all interested persons that the North Carolina Housing Finance Agency (the “Agency”) has been requested to issue its revenue bonds (the “Bonds”) for the purpose of (a) financing the acquisition by LIH Kimberly Ridge Preservation, LP, a limited partnership created under the laws of the State of North Carolina (the “Borrower”), of an existing multifamily residential rental facility in the City of Kannapolis, North Carolina and the rehabilitation, improvement and equipping thereof and (b) paying certain fees and expenses incurred in connection with the issuance and sale of the Bonds.
The development to be financed with the proceeds of the Bonds is an approximately 76-unit complex to be located at 450 Cabarrus Arms Drive, Kannapolis, North Carolina, to be owned by the Borrower. The aggregate principal amount of Bonds to be issued for such development shall not exceed $13,200,000.
The Agency will hold a public hearing with respect to the issuance of its Bonds to finance a portion of the cost of the development on January 31, 2024 at 11:00 a.m. at which time any person may be heard regarding the issuance of the Bonds. The Agency will hold the public hearing by telephonic conference call. Any person wishing to comment on the development and proposed issuance of the Bonds by the Agency may do so by a toll free call to 888-804-1335, conference room 7914140. In addition, any person wishing to comment in writing on the issuance of the Bonds should do so prior to the date of such hearing to Brett Warner, Chief Financial Officer, North Carolina Housing Finance Agency, 3508 Bush Street, Raleigh, North Carolina 27609.
Following the holding of the public hearing, the Agency intends to submit the comments received to the Governor of the State of North Carolina and request approval of the issuance of the Bonds for the development.
NORTH CAROLINA HOUSING FINANCE AGENCY
By: Brett Warner
Chief Financial Officer