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.
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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„
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AFFIDAVIT OF PUBLICATION MULTIPANW• TSCHOU$Hv U IOHIiiBY,ytiP ".'
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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.