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 18, 2024, at 11:00 a.m. local time (Arizona Time)
REFERENCE: IH Maricopa Apartments Owner II LLC, a Minnesota Limited Liability Company — formerly known as Roers Maricopa Apartments Owner II LLC.
– 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 18, 2024, 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 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 $85,000,000, the proceeds of which will be loaned to IH Maricopa Apartments Owner II LLC, a Minnesota limited liability company (formerly known as Roers Maricopa Apartments Owner II LLC) (together 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, improvement, equipping and/or operating of a qualified residential rental facility (including improvements and facilities functionally related and subordinate thereto) which is expected to be comprised of approximately 216 units (all or a portion of which will be set aside for occupancy by low- to moderate-income tenants) situated on approximately 9.56 acres of real property generally located at 42584 W Maricopa-Casa Grande Highway, Maricopa, Arizona (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.
HEARING DATE: Friday, September 20, 2024, at 11:00 a.m. local time (Arizona Time)
REFERENCE: Mosaic, a Nebraska 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 20, 2024, 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 Issuer of its qualified 501(c)(3) bonds, as defined in Section 145 of the Internal Revenue Code of 1986, as amended (the “Code”), in one or more series from time to time pursuant to a plan of financing, in a principal amount not to exceed $29,500,000, the proceeds of which will be loaned to Mosaic, a Nebraska nonprofit corporation and an organization described in Section 501(c)(3) of the Code (the “Borrower”) in order to pay all or a portion of the costs: (a) to refinance the following outstanding obligations, with approximately $13,000,000 of proceeds of the Bonds: (i) the outstanding principal amount of the $12,250,000 Public Finance Authority Revenue Refunding Bonds (Mosaic Project), Series 2017A, issued by the Public Finance Authority (the “Prior Bonds Issuer”) on June 29, 2017, (ii) the outstanding principal amount of the $6,740,000 Public Finance Authority Revenue Bonds (Mosaic Project), Series 2017B, issued by the Prior Bonds Issuer on June 29, 2017 and reissued on November 17, 2017, (iii) the outstanding principal amount of the $2,901,543.81 Public Finance Authority Revenue Bonds (Mosaic Project), Series 2018A, issued by the Prior Bonds Issuer on October 31, 2018, and (iv) the outstanding principal amount of the $7,200,000 Public Finance Authority Revenue Bonds (Mosaic Project), Series 2018B, issued by the Prior Bonds Issuer on October 31, 2018 and re-issued on December 2, 2019; and (b) to finance the acquisition of tangible and intangible assets related to providing in-home support services for adults, such assets to be owned and operated by the Borrower or Mosaic Senior Services, which is an affiliate of the Borrower, located at the following locations in the State of Arizona, with approximately $16,500,000 of proceeds of the Bonds: 709 N Walnut Avenue in the City of Casa Grande, 2116 Stockton Hill Road in the City of Kingman, 255 E. Osborn Road in the City of Phoenix, and 1025 West 24th Street in the City of Yuma. 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: Thursday, February 1, 2024, at 11:00 a.m. local time (Arizona Time)
REFERENCE: FSL Village on Humphreys Flagstaff 2019, LP, 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 (the “Issuer”) on February 1, 2024, 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 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 $10,000,000, the proceeds of which will be loaned to FSL Village on Humphreys Flagstaff 2019, LP, an Arizona limited partnership (the “Borrower”), in order to finance and/or refinance, as applicable, all or a portion of the costs of the acquisition, construction, improvement, equipping and/or operating of a qualified residential rental facility (including improvements and facilities functionally related and subordinate thereto) which is expected to be comprised of approximately 70 units (all or a portion of which will be set aside for occupancy by low- to moderate-income senior tenants (age-restricted)) situated on approximately one acre of real property generally located at or near 320 N. Humphreys St, Flagstaff, Arizona 86001 (collectively, the “Facilities”). The Facilities will be owned and/or operated by the Borrower. For more information and to attend the public hearing, please see the complete Notice of Public Hearing linked below, which includes toll free dial-in information.
