NOTICE OF PUBLIC HEARING
Notice is hereby given of a public hearing to be held on behalf of the City of Lancaster, Texas (the “City”), on May 31, 2023, at 9 a.m., via teleconference by dialing the toll-free number 1-877-746-4263, access code 0235201#. This hearing is for the purpose of considering the approval of the issuance of multifamily housing revenue bonds (the “Bonds”) to be issued by Texas Home Collaborative (the “Issuer”), a non-profit public facility corporation created by The Housing Authority of the City of Texarkana, Texas. The Bonds will be issued by the Issuer in one or more series of tax-exempt bonds in an aggregate principal amount not to exceed $45,000,000. The proceeds of the Bonds will be loaned to Lancaster Preservation, LLC (or a related person or affiliate thereof) (the “Borrower”), to finance a portion of the costs of the acquisition and rehabilitation of a multifamily residential rental development to be known as Rosemont of Lancaster (the “Development”), containing approximately 280 units and located at approximately 1605 N Houston School Road, Lancaster, Texas 75134.
The Bonds will be issued pursuant to the provisions of the Texas Public Facility Corporations Act, Local Government Code, Chapter 303, Vernon’s Texas Code, as amended (the “Act”). The Bonds are expected to be issued as “exempt facility bonds” for a qualified residential rental project pursuant to Section 142(a)(7) and (d) of the Internal Revenue Code of 1986, as amended (the “Code”). The initial owner, operator or manager of the Development will be the Borrower identified above.
All interested persons are invited to attend such public hearing to express their views with respect to the Development and the issuance of the Bonds. Questions, comments or requests for additional information may be directed to Questions or requests for additional information may be directed to Mr. Antonio Williams, Texas Home Collaborative, 1611 N. Robison Road, Texarkana, Texas 75501 or (903) 838-8548.
This notice is published and the above-described hearing is to be held in satisfaction of the requirements of Section 147(f) of the Internal Revenue Code of 1986, as amended, regarding the public approval prerequisite to the exclusion from gross income for federal income tax purposes of the interest on the Bonds, other than any taxable bonds.
