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.
Hearing Date: Wednesday, October 4, 2023 at 11:00 AM MST
Reference: Sierra on 66 – Roers Flagstaff Apartment Owner 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 October 4, 2023, at 11:00 a.m. local time (Arizona Time) 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 $75,000,000, the proceeds of which will be used to make a loan to Roers Flagstaff Apartment Owner LLC, a Minnesota limited liability company (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 consist of multiple three-story residential buildings comprised of approximately 221 units (all or a portion of which will be set aside for occupancy by low- to moderate-income tenants) situated on approximately 10.56 acres of real property generally located south of U.S. Highway 66 and west of Woody Mountain Road, Flagstaff, Arizona (expected to be assigned an address of 2292 S. Alvan Clark Boulevard, 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.
Hearing Date: Friday, September 29, 2023 at 11:30 AM MST
Reference: Equitable School Revolving Fund
– 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 29, 2023, at 11:30 a.m. local time (Arizona Time) 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 $400,000,000, the proceeds of which will be loaned to Equitable School Revolving Fund, LLC, a Delaware limited liability company, the sole member of which is Equitable Facilities Fund, Inc., a Delaware nonstock, nonprofit corporation described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, in order to pay all or a portion of the costs: (a) to finance, reimburse and/or refinance, as applicable, the cost of loans made or to be made to qualifying public charter schools or their affiliates for the purpose of financing or refinancing certain costs of the acquisition, construction, improvement, equipping and furnishing of certain educational facilities located in Phoenix, Arizona, Tucson, Arizona, Little Rock, Arkansas, Pine Bluff, Arkansas, Miami, Florida, Caldwell, Idaho, Nampa, Idaho, Indianapolis, Indiana, South Bend, Indiana, Dorchester, Massachusetts, Pagedale, Missouri, St. Louis, Missouri, Newark, New Jersey, Trenton, New Jersey, Rochester, New York, Durham, North Carolina, Central Falls, Rhode Island, Cumberland, Rhode Island, Lincoln, Rhode Island, Providence, Rhode Island, Fort Worth, Texas, Houston, Texas, Manor, Texas, Mercedes, Texas, Pasadena, Texas, and San Antonio, Texas, and certain other loans to certain other qualifying public charter schools or their affiliates not yet originated for which additional post-issuance public approval will be obtained pursuant to Section 1.147(f)-1(f)(5) of the Treasury Regulations. 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.
Hearing Date: Monday, June 12, 2023 at 2:00 PM MST
Reference: Mercy Housing – Glendale Senior Apartments
– 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 June 12, 2023, at 2:00 p.m. local time (Arizona Time) 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 $35,000,000, the proceeds of which will be loaned to MHMP 19 Glendale Senior Apartments LLLP, an Arizona limited liability limited partnership (the “Borrower”), to finance and/or refinance, as applicable, among other things, 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 and subordinate thereto), which is expected to be comprised of 148 units (a portion of which will be set aside for occupancy by low- to moderate-income senior tenants (age-restricted)) and common space amenities situated on approximately 3.8 acres of real property located at 4910 W Glenn Drive, Glendale, Arizona (collectively, the “Facilities”). The Facilities will be owned and 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.