Notice of Public Hearing Regarding Friars Court II in Hudson
June 10, 2020
Notice is hereby given that on Wednesday, June 24, 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 148 830 4776. 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 $5,000,000 (the “Bonds”) (out of a total anticipated project cost of $7,884,000). 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 of a portion of an 11.198 acre site located at 161 Lowell Road (referred to in the Tax Assessor’s office as Map 209 Lot 001-001) in the Town of Hudson, County of Hillsborough, and State of New Hampshire (such 11.198 acre site constituting the “Overall Site”), and the construction, furnishing and equipping on such portion of a 34 unit multi-family residential rental housing development consisting of two buildings that are attached with a connector that will have an aggregate square foot building area totaling approximately 33,954 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.
The Overall Site will be divided into two condominium units consisting of a 0.70 acre portion (the “Phase 1 Portion”) and a 0.495 acre portion (the “Phase 2 Portion”), with the remaining 10.003 acres being subject to common ownership between the owner of the Phase 1 Portion and the owner of the Phase 2 Portion. The owner of the Project (located on the Phase 2 Portion) will be FC 2 Owner, LLC, a New Hampshire limited liability company, the managing member of which will be FC 2 Managing Member, LLC (with the principals of the General Partner being Roberto Arista and Marc Daigle). The owner of the Phase 1 Portion, on which a 47 unit multi-family residential rental housing development not financed with any tax-exempt bond proceeds will be constructed, will be an affiliate of the owner of the Project. 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