ADVERTISEMENT

NOTICE OF PUBLIC HEARING ON A PROGRAM FOR A MULTIFAMILY HOUSING DEVELOPMENT AND THE ISSUANCE OF MULTIFAMILY HOUSING REVENUE BONDS HOUSING AND REDEVELOPMENT AUTHORITY OF DULUTH, MINNESOTA NOTICE IS HEREBY GIVEN that the governing body of the Housing and Redevelopment Authority of Duluth, Minnesota (the "Issuer") will meet virtually via https://www.

NOTICE OF PUBLIC HEARING
ON A PROGRAM FOR A
MULTIFAMILY HOUSING
DEVELOPMENT AND THE
ISSUANCE OF MULTIFAMILY HOUSING REVENUE BONDS
HOUSING AND REDEVELOPMENT AUTHORITY OF DULUTH, MINNESOTA
NOTICE IS HEREBY GIVEN that the governing body of the Housing and Redevelopment Authority of Duluth, Minnesota (the "Issuer") will meet virtually via https://www.gotomeet.me/Duluth_HRA or electronically by calling 1-646-749-3122, access code 384-998-181 on Tuesday, October 26, 2021, at 3:30 p.m., or as soon thereafter as possible, for the purpose of conducting a public hearing. The purpose for the public hearing is:
(i) to consider a program for a multifamily housing development (the "Program") to be undertaken by Orbach Affordable Housing Solutions LLC, a Delaware limited liability company, to rehabilitate and equip a 150-unit multifamily apartment building located at 227 East Superior Street in Duluth, Minnesota, commonly referred to as Greysolon Plaza (the "Project"); and
(ii) to consider the proposal that the Issuer issue its revenue bonds under Minnesota Statutes, Chapters 462A and 462C and Section 142(d) of the Internal Revenue Code of 1986, as amended (the "Code"), in order to undertake and finance the costs of the Program.
The public hearing is being conducted pursuant to the requirements of Minnesota Statutes Section 462C.04, subd. 2 and Section 147(f) of the Code.
The estimated amount of the proposed tax exempt revenue bonds is not expected to exceed $17,910,928, and the estimated amount of the proposed taxable revenue bonds is not expected to exceed $7,000,000.
The revenue bonds and the interest thereon shall be limited obligations of the Issuer and shall not be payable from nor charged upon any funds other than the revenue pledged to their payment, nor shall the Issuer be subject to any liability on them. No holder of the bonds shall ever have the right to compel any exercise of the taxing power of the Issuer to pay the bonds or the interest thereon, nor to enforce payment of them against any property of the Issuer except those projects, or portions thereof, mortgaged or otherwise encumbered.
A draft copy of the Program is available for public inspection on the Issuer's website at http://www.duluthhousing.com.
All persons interested may appear and be heard at the time and place set forth above or may submit written comments to the Executive Director in advance of the hearing.
HOUSING AND
REDEVELOPMENT AUTHORITY OF DULUTH, MINNESOTA
By Jill A. Keppers,
Executive Director
(Oct. 9, 2021) 2907428