Public Hearing on Proposed Multifamily Housing Revenue Bonds Financing

Notice of Public Hearing on Proposed Multifamily Housing Revenue Bonds Financing by the Housing Authority of the City of Durham. 

Notice is hereby given that a Hearing Officer of the Board of Commissioners of the Housing Authority of the City of Durham (the "Authority") will hold a public hearing on its proposed plan to issue multifamily housing revenue bonds, in one or more series, in an amount up to $29,000,000 (the "Bonds") for the financing of the acquisition, construction and equipping by 500 East Main, LLC, a North Carolina limited liability company, or an affiliated or related entity (the "Borrower"), of a qualified residential rental project (as defined in Section 142(d) of the Internal Revenue Code of 1986, as amended) (the "Development"). The Development will consist of approximately 195 units and other related improvements to be located at approximately 501 Ramseur Street in the City of Durham, Durham County, North Carolina. The Development will be owned or operated by the Borrower. The Bonds, when and if issued by the Authority, will be issued pursuant to Article 1 of Chapter 157 of the General Statutes of North Carolina and shall not be a debt of the State of North Carolina (the "State"), the City of Durham, North Carolina (the "City"), the Authority or any political subdivision thereof and none of the State, the City, the Authority, or any political subdivision thereof shall be liable thereon, nor in any event shall the Bonds be payable out of any funds or properties other than those of the Authority derived solely from payments made by the Borrower.

The public hearing, which may be continued or adjourned, will be held on June 20, 2024, at 2:00 p.m. (or as soon thereafter as the hearing is held) in the DHA Boardroom at 330 East Main Street, Durham, North Carolina. Any person interested in the issuance of the Bonds, or the Development may appear and be heard at the public hearing. Any person wishing to comment in writing on the Development or the issuance of the Bonds should do so no later than June 20, 2024, by mailing such comments to Anthony Scott, Chief Executive Officer, Housing Authority of the City of Durham, 330 East Main Street, Durham, North Carolina 27701. Housing Authority of the City of Durham Anthony Scott, Chief Executive Officer IPL01 77743 Jun 1, 2024.