Sept 28th 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 an amount up to $22,000,000 (the "Bonds") for the financing of the acquisition, construction and equipping by Cedar Trace Durham 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) to be known as Cedar Trace (the "Development"). The Development will consist of 180 units and other related improvements to be located at approximately 3400 Carr Road in the City of Durham, 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 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 such 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 September 28, 2022, at 4:30 p.m. (or as soon thereafter as the hearing is held) 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 September 28, 2022, 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.
Anthony Scott, Chief Executive Officer
Housing Authority of the City of Durham