Notice of Public Hearing for Concord Royal Gardens
September 7, 2023
Notice is hereby given that a public hearing will be conducted by New Hampshire Housing Finance Authority at the Community Development Finance Authority offices at 14 Dixon Avenue, Concord, NH from 6:00 to 6:30 PM (or longer if necessary to accommodate attendee’s questions or comments) on September 20, 2023 with respect to the proposed issuance by New Hampshire Housing Finance Authority, acting under and pursuant to New Hampshire Revised Statutes Annotated Chapter 204-C (the “Act”), of obligations in the maximum aggregate principal amount of $50,000,000 (the “Bonds”) (out of a total anticipated project cost of approximately $93,200,000). The Bonds are proposed to be issued to provide financing as permitted under the Act for the following multi-family housing project (the “Project”): the acquisition, rehabilitation, furnishing and equipping of an existing 300-unit affordable multi-family rental housing property commonly referred to as Concord & Royal Gardens, located along Christian Avenue, between East Side Drive and Ormond Street, on two contiguous parcels of land, one of approximately 8.93 acres containing 13 buildings and one of approximately 12.51 acres containing 14 buildings (referred to in the Tax Assessor’s office as Lot 60/Z/11 and 60/Z/11/1, respectively) in the City of Concord, County of Merrimack, and State of New Hampshire with an aggregate square foot building area totaling approximately 270,856 square feet. All 300 residential units are expected to be occupied by tenants having incomes no greater than 60% of area median income. The owner of the Project will be Concord Royal Gardens, LP, a California limited partnership, the general partner of which will be Concord Royal Gardens GP, LLC. The Bonds will not be a general obligation of New Hampshire Housing Finance Authority nor a debt, liability, obligation or pledge of the faith and credit of the State of New Hampshire or any political subdivision thereof.
Written comments will be accepted for two business days following the public hearing, and must be received by email, fax, or physical delivery no later than 4:30 p.m. on September 22, 2023.
For more information, or to send comments as outlined above, contact:
Jim Menihane, Director Multifamily Business Development
New Hampshire Housing Finance Authority
32 Constitution Drive
Bedford, NH 03110