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HomeMy WebLinkAboutCERTIFICATE OF THE MAYOR OF AUGUSTA APPROVING THE ISSUANCE OF REVENUE BONDS BY THE HOUSING AUTHORITY OF THE CITY OF AUGUSTA, GEORGIA FOR THE BENEFIT OF AUGUSTA LEASED HOUSING ASSOCIATES I, LLLP CERTIFICATE OT TIIE MAYOR OF AUGUSTA APPROVING THE ISSUANCE OF REVENUE BONDS BY THE HOUSING AUTHORITY OF THE CITY OF AUGUSTA,GEORGIA FOR THE BENEFIT OF AUGUSTA LEASED HOUSING ASSOCIATES I,LLLP The Housing Authority of the City of Augusta, Georgia(the "Authority") has considered the application of Augusta Leased Housing Associates I, LLLP, a Minnesota limited liability limited partnership (the "Borrower"), requesting that the Authority assist the Borrower in financing the acquisition and rehabilitation of a multifamily housing project in Augusta, Georgia known as River Glen apartments, comprised of approximately 192 dwelling units and located on an approximately 13.3-acre tract at 201 E. Telfair Street, Augusta, Georgia 30901, said project to consist of certain land, buildings, structures, equipment and related real and personal property (collectively, the "Project"), as identified in the Notice to the Public, through the issuance of the Authority's revenue bonds, in one or more series, in an aggregate principal amount of not to exceed $22,000,000 (the "Bonds"). The Authority held a public hearing on May 4, 2018, with respect to such proposed issuance of the Bonds and financing of the Project. Section 147(f) of the internal Revenue Code of 1986, as amended (the "Code"), provides that the governmental unit having jurisdiction over the issue of revenue bonds and over the area in which any facility financed with the proceeds of the revenue bonds is located shall approve the issuance of such revenue bonds. The Authority issues its revenue bonds on behalf of the consolidated government of the City of Augusta and Richmond County (the "City") and the Project is located within the City, and the Mayor constitutes the chief elected executive officer of the City. The Authority has requested approval of the issuance of the Bonds and the financing of the Project subject to the terms of the financing to be agreed upon by the Authority, the Borrower and the purchaser(s)of the Bonds. The Authority has delivered to the Mayor of the City a certificate regarding the conduct - of the public hearing. The Mayor of Augusta, Georgia hereby certifies as follows: • Section 1. The issuance of the Bonds by the Authority for the benefit of the Borrower • in an aggregate principal amount of not to exceed $22,000,000 to assist in the financing of the Project is hereby approved to the extent required by said Section 147(f) of the Code. Section 2. Such approval by the Mayor does not constitute an endorsement to a prospective purchaser of the bonds of the creditworthiness of the Borrower or the Project, and the Bonds shall not constitute an indebtedness or obligation of the State of Georgia or Augusta, Georgia, but the Bonds shall be payable solely from the revenues derived from the Borrower and pledged to the payment thereof, and no owner of any of the Bonds shall ever have the right to compel any exercise of the taxing power of said State or of any municipal corporation,county, or political subdivision thereof, nor to enforce the payment thereof against any property of said State or of any such municipal corporation,county, or political subdivision. This r day of3U11t20i 8. j-f A- iiir ir`61,( Hardie Davis,Jr., /yor [SEAL] e/,q/i9 a wVt (Attest: „,,„0,,,.„v*,.„*..1,,,,,•, �s ...ft?)f' 90 ena J, .,zr ie 4-'lei '4,f Corni is F E }_ 9 .0 i ✓ qG ,996 f 0 V”,t `' 4 1t6“'lam. I 55139.000009 EMI US 611968976v4 NOTICE OF PUBLIC HEARING ON PROPOSED MULTIFAMILY HOUSING REVENUE BONDS TO BE ISSUED BY THE HOUSING AUTHORITY OF THE CII'Y OF AUGUSTA, GEORGIA ON BEHALF OF AUGUSTA LEASED HOUSING ASSOCIATES I, LLLP Notice is hereby given that on the 4th day of May, 2018, at 10:00 a.m. in the Board Room of the Housing Authority of the City of Augusta, Georgia, located at 1435 Walton Way, Augusta, Georgia 30904, a Public Hearing will be held concerning the proposed issuance of multifamily housing revenue bonds, in one or more series (the "Bonds") by the Housing Authority of the City of Augusta, Georgia(the"Authority") in an aggregate principal amount not to exceed$22,000,000, for the purpose of assisting Augusta Leased Housing Associates I, LLLP, a Minnesota limited liability limited partnership (and an affiliate of Dominium Development & • Acquisition) (hereinafter referred to as the "Borrower"), with the acquisition, rehabilitation and equipping of a multifamily housing project, known as River Glen apartments, comprised of approximately 192 dwelling units which is located on an approximately 13.3-acre tract at 201 E. Telfair Street, Augusta, Georgia 30901 (near the intersection of E. Boundary Street and E. Telfair Street),said project to consist of certain land, buildings, structures, equipment and related real and personal property (collectively, the "Project").. The hearing will be held before a hearing officer designated by the Authority, and may be continued or adjourned. The Bonds, when and if issued, will be the limited obligation of the Authority and will not constitute a general obligation of the State of Georgia, Augusta, Georgia or the Authority, nor shall the Bonds be payable in any manner by taxation, but are payable solely from the payments made by or on behalf of the Authority, which are pledged to the payment of the Bonds pursuant to an agreement between the Authority and the Borrower. The issuance of Bonds is in furtherance of the public purpose of the Authority. Further information regarding the proposed Bonds and the proposed facility financed are of public record in the office of the Housing Authority of the City of Augusta, Georgia. Any interested party having views on the proposed issuance of the Bonds or the nature or location of the proposed project may be heard at such public hearing. • Housing Authority of the City of Augusta, Georgia CERTIFICATE ON BEHALF OF THE HOUSING AUTHORITY OF THE CITY OF AUGUSTA,GEORGIA REGARDING PUBLIC HEARING THE UNDERSIGNED Jacob Oglesby, as Executive Director and Hearing Officer, on behalf of the Housing Authority of the City of Augusta, Georgia (the "Authority"), HEREBY CERTIFIES as follows: (1) A Public Hearing was duly held on May 4, 2018, at 10:00 a.m., in the Board Room of the Housing Authority of the City of Augusta, Georgia, located at 1435 Walton Way, Augusta, Georgia 30904, pursuant to proper notice given in accordance with law as to the time and place of this hearing prior to such hearing. The hearing was open to the public. The time of the hearing and the room in which the hearing was held provided a reasonable opportunity for persons of differing views to appear and be heard. (2) The designated hearing officer of the Authority announced the commencement of the public hearing on behalf of the Mayor of the City of Augusta, Georgia, on the application of Augusta Leased Housing Associates I, LLLP, a Minnesota limited liability limited partnership (the"Borrower"), and that the Authority had caused the publication of a notice at least fourteen (14) days prior to the hearing in the Augusta Chronicle, a newspaper having general circulation in Augusta, Georgia(the"Notice"). A copy of the Notice has been filed and appears of record in the Minute Book of the Authority and is attached hereto together with an affidavit of publication as Exhibit "A". (3) The following person(s) appeared and addressed the hearing on behalf of the Borrower: A summary statement of the Borrower is attached hereto as Exhibit"B". (4) The following person(s) appeared and asked to be heard with respect to the granting by the Authority of the financial assistance requested by the Borrower and the financing of the "Project" referred to in the Notice: No one else having appeared to speak on the matter, the Hearing Officer declared the public hearing closed at 10 (D a.m. (5) Based on the results of the hearing, it is the recommendation of the undersigned on the behalf of the Authority that the Mayor of Augusta approve the issuance of the Bonds to the extent required by Section 147(0 of the Internal Revenue Code of 1986, as amended. This W arlay of May, 2018. j 4 A:_ Jaco• . Oglesby, Hearin fficer • Exhibits Attached: "A"- Copy of Notice together with Affidavit of Publication "B"- Summary Statement on Behalf of Borrower EXHIBIT "A„ NCTlce.oFPu1ai0'HaARlNQ :, ' -ON,PRCP,O$ED.,.::; . .. AFFIDAVIT OF PUBLICATION MULTIPANW• TSCHOU$Hv U IOHIiiBY,ytiP ".' 'NS 8EHALPOPnuau TALEASED • Hot7s]NG'AasoCrATEs 1,1.LLP. afohee is:fiGYeby Oven that'on.leu 4th tray,of May;20181 at-,10:0D2a:m.:Iri.the RoOrd;Room-'o1{tha':Horisin0,Alltlioiity of,the CityokatiiQusla;•0eorpla,•bcat,. ed..at:1435,Watlon,Way,Atigueta Geon caa 309,04..a P0bIHea bc rlrip viiil:b tietd cancoinlnp lh'o;p.fb¢0A'ed,;leeuanee'of niuhlramiIEli0I(sli j;rovetiuo:.tidribsr.•in one.ori morasorlos;(tho,"bonds"ybyatto Hou§hip?AuIhorlt ofthe-Citiyy hIiAupus,: •is,,aieorgtay(ttia""RuUibrtly")ici co op• gSrrepato:priifgippaaiI:wnoun(net to:eXdeed S22i00a0o0,.tao the.p.'tirpoaa of�ad3is't= .Ing,A,99uata:.19169.d t199sing:A`ssocP ATTORNEY HULL BARRETT atal(t-cke aMrnnos,3+aninitad.?rabrl- ty thistod:partnersf lti(arid an affiliate of oominai r govolopment&Acielhe: OR AGENCY: PO BOX 1564 11enr (hercfnaftar tofetrad t..Aa'.lhe BorftWot'y,Wv)th the aoqubrtI0c,rebs{:- • bintatiomih .koforrip,or a rnottrrafhify'-; AUGUSTA, GA 30903 housi0g:c040.00own-as F.IMO, i apanmcnis; compifOiti of appcbat:.: mateiy'(p 5 ..41190,0nlis,Whlclt*fon::f CatIl;; t I EXHIBIT"B" SUMMARY STATEMENT ON BEHALF OF Augusta Leased Housing Associates I,LLLP Augusta Leased Housing Associates I, LLLP, a Minnesota limited liability limited partnership (together with any successor(s) or assign(s), hereinafter referred to as the "Borrower") proposes the acquisition, rehabilitation and equipping of a multifamily housing project in Augusta, Georgia, known as River Glen apartments, comprised of approximately 192 dwelling units located on an approximately I3.3-acre tract at 201 E. Telfair Street, Augusta, Georgia 30901, said project to consist of certain land, buildings, structures, equipment and related real and personal property(collectively, the "Project").The Project will consist of certain land, buildings, structures, equipment and related real and personal property (collectively, the "Project"). It is estimated by the Borrower that the planning, design, acquisition, construction, equipping and carrying out of the proposed Project will require expenditures currently estimated at not less than$22,000,000.