Notices of Public Hearing
For certain types of private activity bonds, a public hearing (sometimes referred to as a “TEFRA hearing”) is mandated by the IRS to provide a reasonable opportunity for interested individuals to express their views, either orally or in writing, on the issuance of bonds and the nature of the improvements and projects for which the bond funds will be allocated. Please consult your tax lawyer should you have any questions regarding the requirements to satisfy the mandate of Section 147(f) of the Internal Revenue Code of 1986, as amended.
If no information is listed below, there are no public hearings currently scheduled.
HEARING DATE: Wednesday, September 16, 2026, at 10:00 a.m. local time (Arizona Time)
REFERENCE: Vaseo Apartment Owner, LP, a Delaware limited partnership
– Click the link below the Summary for the Notice in its entirety. File Type: PDF
BRIEF SUMMARY: A public hearing will be held by a representative of the Arizona Industrial Development Authority (the “Issuer”) on September 16, 2026, at 10:00 a.m. local time (Arizona Time), or as soon thereafter as the matter can be heard, regarding the proposed issuance by the Issuer of its revenue notes, bonds or other obligations in one or more series from time to time pursuant to a plan of financing, in an amount not to exceed $130,000,000 (the “Bonds”). The proceeds from the sale of the Bonds will be used to make a loan to Vaseo Apartment Owner, LP, a Delaware limited partnership (together with any of its successors or affiliates, the “Borrower”), in order to refinance all or a portion of the Issuer’s $130,000,000 Multifamily Housing Revenue Bonds (Vaseo Apartments Project) Series 2018 originally issued on December 13, 2018, which were used to finance and/or refinance, as applicable, all or a portion of the costs of the acquisition, rehabilitation, improvement and equipping of a multifamily residential rental facility to be comprised of an anticipated 1,222 units situated on approximately 53.04 acres of real property generally located at 16220 North 7th Street in Phoenix, Arizona (collectively, the “Facilities”). The Facilities are owned and operated by the Borrower. For more information, including information on how to attend the public hearing, please see the complete Notice of Public Hearing linked below, which includes toll free dial-in information.
HEARING DATE: Wednesday, September 16, 2026, at 10:00 a.m. local time (Arizona Time)
REFERENCE: MPSL-P1 Real Estate, LLC, an Arizona limited liability company, whose sole member is New Covenant Senior Living, Inc., an Arizona nonprofit corporation
– Click the link below the Summary for the Notice in its entirety. File Type: PDF
BRIEF SUMMARY: A public hearing will be held by a representative of the Arizona Industrial Development Authority (the “Issuer”) on September 16, 2026, at 10:00 a.m. local time (Arizona Time), or as soon thereafter as the matter can be heard, regarding the proposed issuance by the Issuer of its revenue notes, bonds or other obligations in one or more series from time to time pursuant to a plan of financing, in an amount not to exceed $115,000,000 (the “Bonds”). The proceeds from the sale of the Bonds will be used to make a loan to MPSL-P1 Real Estate, LLC, an Arizona limited liability company, whose sole member is New Covenant Senior Living, Inc., an Arizona nonprofit corporation and exempt from the payment of income tax under Section 501(a) of the Code as an entity organized under Section 501(c)(3) of the Code (together, and with any of its successors or affiliates, the “Borrower”), to finance and/or refinance, as applicable, all or a portion of the costs of the acquisition, construction, development, improvement, and equipping of an assisted living and memory care facility to be comprised of approximately 237 units situated on approximately 9 acres of real property generally located at or near 7300 Spring Street, Mount Pleasant, Wisconsin 53406 (collectively, the “Facilities”). The Facilities will be owned by the Borrower and operated by The Mission at Mount Pleasant, LLC, an affiliate of the Borrower whose sole member is also New Covenant Senior Living, Inc. For more information, including information on how to attend the public hearing, please see the complete Notice of Public Hearing linked below, which includes toll free dial-in information.
HEARING DATE: Friday, July 25, 2025, at 11:00 a.m. local time (Arizona Time)
REFERENCE: Flats at Ballpark Village, L.P., an Arizona limited partnership.
– Click the link below the Summary for the Notice in its entirety. File Type: PDF
BRIEF SUMMARY: A public hearing will be held by a representative of the Arizona Industrial Development Authority on July 25, 2025, at 11:00 a.m. local time (Arizona Time), or as soon thereafter as the matter can be heard, regarding the proposed issuance by The Industrial Development Authority of the County of Pima (the “Pima IDA”) of its revenue notes, bonds or other obligations in one or more series from time to time pursuant to a plan of financing, in an amount not to exceed $60,000,000 (the “Bonds”). The Bonds are expected to be used to finance a project located within the state of Arizona but outside of the jurisdiction of the Pima IDA and Pima County, Arizona. The proceeds of the Bonds will be loaned to Flats at Ballpark Village, L.P., an Arizona limited partnership (together with any of its successors or affiliates, the “Borrower”), for the purpose of financing and/or refinancing, as applicable, all or a portion of the costs of the acquisition, construction, improvement, development, equipping and/or operation of residential real property (including improvements and facilities functionally related and subordinate thereto) consisting of approximately 194 units, all or a portion of which will be set aside to provide housing for low- to moderate-income tenants, on certain real property generally located on the southwest corner of South Bullard Avenue and Yuma Road in Goodyear, Arizona, and to be known as “The Flats at Ballpark Village” (collectively, the “Facilities”). The Facilities will be owned and/or operated by the Borrower. For more information, including information on how to attend the public hearing, please see the complete Notice of Public Hearing linked below, which includes toll free dial-in information.