Public Notice - Multifamily Housing Revenue Bonds - 5608 Crescent Drive July 19, 2021
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 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 aggregate principal amount of up to $12,000,000 (the "Bonds"), for the purpose of financing the acquisition, construction and equipping by Crescent Drive Apartments, LLC, a North Carolina limited liability company, or an affiliate or subsidiary thereof (the "Borrower"), of a low-and moderate-income multifamily residential rental facility to be known as Crescent Drive Apartments, consisting of 82 units in one residential building (the "Development"). The Development is located on an approximately 1.80-acre site at 5608 Crescent Drive, in the City of Durham, Durham County, North Carolina.
The housing 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 Authority, the City of Durham, North Carolina (the "City") or any political subdivision thereof and none of the State, the Authority, the City 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 July 28, 2021, at 5:30 p.m. (or as soon thereafter as the hearing is held) during the Authority's regular meeting, which will be held remotely. Any person interested in the issuance of the Bonds or the Development may access the remote meeting and be heard at the public hearing by dialing one of the following numbers: 877.853.5247 (toll-free) or 301.715.8592, and when prompted entering meeting ID number: 88901128831. Any person wishing to comment in writing on the Development or the issuance of the Bonds should do so, no later than July 29 2021, by mailing such written comments to Anthony Scott, Chief Executive Officer, Housing Authority of the City of Durham, 330 East Main Street, Durham, North Carolina 27701.