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: Thursday, June 1, 2023 at 11:00 AM MST
Reference: Cottonwood Ranch 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 1, 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 $65,000,000, the proceeds of which will be loaned to Cottonwood Ranch Apartments, LP, an Arizona 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, improvement, equipping and/or operation of a qualified residential rental facility (including improvements and facilities functionally related and subordinate thereto), which is expected to be comprised of approximately 300 units (all or a portion of which will be set aside for occupancy by low- to moderate-income tenants) and common space amenities generally located at or near the northeast corner of N Trekell Road and E Cottonwood Lane, Casa Grande, 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.
Hearing Date: Wednesday, May 17, 2023 at 11:00 AM MST
Reference: Marana Family (The Safford)
– 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 May 17, 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 $46,000,000, the proceeds of which will be loaned to Marana Leased Housing Associates I, LLLP, a Minnesota 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 approximately 200 units (all or a portion of which will be set aside for occupancy by low- to moderate-income tenants) and common space amenities situated on approximately 18.28 acres of real property generally located west of the southwest corner of North Silverbell Road and Continental Reserve Loop in Marana, 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.
Hearing Date: Friday, May 5, 2023 at 11:00 AM MST
Reference: Sage Memorial Hospital
– 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 May 5, 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 $195,000,000, the proceeds of which will be loaned to Navajo Health Foundation – Sage Memorial Hospital, Inc. (the “Borrower”), an Arizona nonprofit corporation, in order to pay all or a portion of the costs to finance and/or refinance, as applicable, among other things, all or a portion of the costs of the acquisition, expansion, construction, renovation, furnishing and equipping of certain health care facilities located at or about U.S. Highway 191 and SR 264, Ganado, Arizona 86505, including: (i) a new approximately 95,000 square foot 25-bed short-term acute care replacement hospital building and related facilities, (ii) a new approximately 40,000 square foot outpatient clinic and medical office facility, and (iii) approximately 45,000 square feet of multifamily residential/staff quarters and clubhouse (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.
Hearing Date: Wednesday, April 12, 2023 at 11:00 AM MST
Reference: Glendale Senior – Juniper Square
– 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 April 12, 2023 at 11:00 a.m. local 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 $48,000,000, the proceeds of which will be loaned to Glendale Leased Housing Associates II, LLLP, a Minnesota 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 which are functionally related and subordinate thereto), which is expected to be comprised of approximately 221 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 10 acres of real property generally located at the northwest corner of 67th Avenue and Maryland Avenue in 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.
Hearing Date: Wednesday, April 12, 2023 at 11:00 AM MST
Reference: Goodyear Senior – Suncrest Vista
– 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 April 12, 2023 at 11:00 a.m. local 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 $60,300,000, the proceeds of which will be loaned to Goodyear Leased Housing Associates II, Limited Partnership, a Minnesota 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 which are functionally related and subordinate thereto), which is expected to be comprised of approximately 261 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 9.48 acres of real property generally located at the southeast corner of Loop 303 and Van Buren Street, Goodyear, 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.
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.