tefra notices

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.

NOTICES OF UPCOMING
PUBLIC HEARINGS

*if no information is listed below, then there are no public hearings currently scheduled.

Friday, February 10, 2023 at 11:00 AM MST

– Click the link below the Summary for the Notice in its entirety. File Type: PDF

BRIEF SUMMARY: A public hearing will be held February 10, 2023 at 11:00 a.m. local time regarding the proposed issuance by the Arizona Industrial Development Authority in one or more series of its tax-exempt and/or taxable revenue notes, bonds or other obligations, pursuant to a plan of financing in an aggregate principal amount not to exceed $35,000,000, the proceeds of which will be loaned to SEED/EXCEL Charter School, LLC, a Maryland limited liability company (“SEED/EXCEL Charter”), and SEED Education Development, L.L.C., a Maryland limited liability company (“SEED Education Development,” and together with SEED/EXCEL Charter, the “Borrower”), to finance and/or refinance, as applicable, all or a portion of the costs of the acquisition, construction, development, improvement, equipping and/or operating of a public charter school (including improvements and facilities functionally related thereto), which is expected to be comprised of an approximately 50,000 square foot facility on approximately 9.8 acres of real property located at 6700 Bock Road, Fort Washington, Maryland (the “Facility”). SEED Education Development will own the Facility and SEED/EXCEL Charter will be the principal user of the Facility, pursuant to a Lease Agreement between SEED Education Development, as landlord, and SEED/EXCEL Charter, as tenant. Sowing Empowerment and Economic Development, Inc., a Maryland nonprofit corporation and an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the “Code”), is the sole member of each of the Borrower. All or a portion of the Bonds, at the time of issuance or following a conversion thereof to tax-exempt obligations, are expected to be qualified Section 501(c)(3) bonds as described in Section 145 of the Code. To attend the public hearing, toll free dial-in information is provided in the complete Notice of Public Hearing linked below.

Wednesday, December 14, 2022 at 12:30 PM MST

Brief Summary: Notice of Public Hearing regarding the proposed issuance by the Arizona Industrial Development Authority in one or more series of its tax-exempt and/or taxable revenue notes, bonds or other obligations, pursuant to a plan of financing in an aggregate principal amount not to exceed $29,000,000, the proceeds of which will be loaned to Mercy Housing Mountain Plains (the “Borrower”), a Colorado nonprofit corporation, to finance and/or refinance, as applicable, all or a portion of the costs of the acquisition, construction, development, improvement, equipping and/or operating of a qualified residential rental facility (including improvements and facilities functionally related thereto), which is expected to be comprised of 60 units (a portion of which will be set aside for occupancy by low- to moderate-income tenants) and common space amenities situated on approximately 3.8 acres of real property generally located at the northeast corner of 50th Avenue and Glenn Drive in Glendale, Arizona (the “Facilities”).  The Facilities will be owned and operated by the Borrower.

Wednesday, December 14, 2022 at 12:30 PM MST

Brief Summary: Notice of Public Hearing regarding the proposed issuance by the Arizona Industrial Development Authority in one or more series of its tax-exempt and/or taxable revenue notes, bonds or other obligations, pursuant to a plan of financing in an aggregate principal amount not to exceed $8,500,000, the proceeds of which will be loaned to ARHS Housing Partners, L.P., an Arizona limited partnership (together with its assignees and designees, the “Borrower”), in order to finance all or a portion of the costs of financing and/or refinancing, as applicable, the costs of the acquisition, construction, improvement, equipping and/or operating of a qualified residential rental facility (including improvements and facilities functionally related thereto) to be comprised of an anticipated 47 units (a portion of which will be set aside for occupancy by low- to moderate-income tenants) situated on approximately 1.19 acres of real property located at 7310 East Palm Lane, Scottsdale, Arizona (the “Facilities”).  The Facilities will be owned and operated by the Borrower.

Wednesday, December 14, 2022 at 12:30 PM MST

Brief Summary: Notice of Public Hearing regarding the proposed issuance by the Arizona Industrial Development Authority in one or more series of its tax-exempt and/or taxable revenue notes, bonds or other obligations, pursuant to a plan of financing in an aggregate principal amount not to exceed $20,000,000, the proceeds of which will be loaned to TWG Glendale, LP (the “Borrower”), an Indiana limited partnership, 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 thereto) to be comprised of an anticipated 105 units (a portion of which will be set aside for occupancy by low- to moderate-income tenants) situated on real property located at 4751 West Glendale Avenue, Glendale, Arizona (the “Facilities”).  The Facilities will be owned and operated by the Borrower.