Notice of Public Hearing Regarding Bagdad Wood in Durham
October 1, 2020
Notice is hereby given that on Tuesday, October 20, 2020 at 6:00 pm, New Hampshire Housing Finance Authority (the “Authority”) will hold a public hearing via teleconference in accordance with Emergency Order #12 pursuant to Executive Order 2020-04, and pursuant to IRS Revenue Procedure 2020-21. The hearing will be open to the public by toll-free telephone. The following toll-free telephone number is provided to give the public access to the hearing; 1-800-644-9886. The Meeting ID is 149 259 3347. If callers experience problems accessing the teleconference hearing they can call Jessica McCarthy at (603) 310-9272. The hearing is with respect to the proposed issuance by the 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 $9,000,000 (the “Bonds”) (out of a total anticipated project cost of $16,702,332). The Bonds are proposed to be issued to provide financing as permitted under the Act for the following multi-family housing project: the acquisition of a 40-unit affordable housing property, operated under a Net Lease Agreement between BW Housing-HINEC, LLC as tenant and Housing Initiatives of New England Corporation as landlord dated April 21, 2004 (the “Net Lease”), located at 38 Madbury Road on a 2.74 acre site (referred to in the Tax Assessor’s office as Map 2, Block 10, Lot 4) in the Town of Durham, County of Strafford, and State of New Hampshire (the “Project”); and the construction, furnishing, and equipping to such portion of the Project a 26 unit addition that when affixed will have an aggregate square foot building area totaling approximately 53,242 square feet, and with all or substantially all of the units expected to be occupied by tenants having incomes no greater than 60% of area median income and to be age restricted to tenants 62 years of age and older. BW Housing-HINEC, LLC is the owner and seller of the Project and will assign and transfer the Net Lease and all other assets of the Project to BW 2 LLC, a New Hampshire limited liability company, the sole member being Housing Initiatives of New England Corporation, its President being Cynthia J. Milliken Taylor. The Bonds will not be a general obligation of the Authority or a pledge of the faith and credit of the Authority or 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 prior to and 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 the second business day following the hearing.
For more information, contact:
Jim Menihane, Director, MF Originations & Business Development
New Hampshire Housing Finance Authority
32 Constitution Drive
Bedford, NH 03110