NOTICE OF PUBLIC HEARING ON PROPOSED
ISSUANCE OF A MULTIFAMILY MORTGAGE REVENUE NOTE
BY THE COMMUNITY DEVELOPMENT AUTHORITY OF
THE CITY OF MANITOWOC, WISCONSIN
NOTICE IS HEREBY GIVEN that a public hearing pursuant to Section 147(f) of the Internal Revenue Code of 1986 (the “Code”) will be held by the Community Development Authority of the City of Manitowoc, Wisconsin (the “Authority”) on May 19, 2021, beginning at 4:00 p.m. via Zoom Meeting:
Meeting ID: 893 2858 0980
The hearing may also be accessed via the following toll-free numbers: 1- (877) 853-5257; or 1- (888) 475-4499.
The purpose of the hearing is to consider the issuance of up to $8,500,000 principal amount of multifamily mortgage revenue note of the Authority (the “Bonds”) and a like amount of refunding obligations, pursuant to a plan of finance, for the acquisition, rehabilitation, construction and equipping costs of a residential housing rental project located in Manitowoc County at 2502 South 21st Street in the City of Manitowoc, Wisconsin 54220 containing approximately 100 units of housing to be known as Southfield Townhomes (the “Project”) to be owned by Southfield Townhomes, L.P. (the “Borrower”).
The Bonds will be a limited obligation of the Authority, payable solely from the Project revenues and other funds and moneys pledged and assigned for the payment of the Bonds. None of the Authority, the City of Manitowoc, Wisconsin, the State of Wisconsin, or any other political subdivision thereof (except the Authority, to the limited extent set forth in the Bonds) nor any public agency shall in any event be liable for the payment of the principal of, premium (if any) or interest on the Bonds or for the performance of any pledge, obligation or agreement of any kind whatsoever with respect thereto except as set forth in the documents authorizing issuance of the Bonds.
The Authority will, at the above-stated time and place, receive written or oral comments and hear all views in favor of or opposed to the proposed issuance of the Bonds or the use of the proceeds of the Bonds, which will be issued to finance the acquisition, rehabilitation, construction and equipping of the above-described Project located in the City of Manitowoc, Wisconsin for the benefit of the Borrower. A report of the hearing will be made to the Common Council of the City of Manitowoc, Wisconsin, which will consider approval of the issuance of the Bonds for purposes of the Code.
Written comments regarding the issuance of the Bonds and funding of the Project may be delivered prior to the above-stated date to the Authority at: 900 Quay Street, Manitowoc, Wisconsin 54220, Attention: Shawn M. Alfred.
THE COMMUNITY DEVELOPMENT AUTHORITY OF THE CITY OF MANITOWOC, WISCONSIN