Notice of Public Hearing Regarding Somersworth Housing Authority
August 6, 2020
Notice is hereby given that on Tuesday, August 25, 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 149 665 4063. 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 $16,000,000 (the “Bonds”) (out of a total anticipated project cost of $28,988,497). 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 from the Somersworth Housing Authority (“SHA”), and the rehabilitation, furnishing and equipping of a 210,000 square foot facility to be used for 169 units of affordable rental housing contained in 33 buildings (with all units expected to be occupied by tenants having incomes no greater than 60% of area median income) located on three separate parcels along Bartlett Avenue, 28 Franklin Street, and Washington Street (respectively referred to in the Tax Assessor’s office as Map 15 Lot 8; Map 9 Lot 102; and Map 10 Lots 108 and 10152) in the City of Somersworth, County of Strafford, and State of New Hampshire.
The owner of the Project will be SHA RAD Limited Partnership, a New Hampshire limited partnership (“SHA RAD LP”), the General Partner being SHA Homes, Inc., an affiliate of the SHA. That portion of the Project referred to as Map 15 Lot 8 above, in addition to multi-family rental housing facilities, also includes (i) a 17,000 square foot building containing front office administrative space for the SHA, kitchen facilities for Meals on Wheels, a gym for tenants at the Map 15 Lot 8 housing facilities, and a maintenance shop; and (ii) a separate 1,600 square foot 2-bay garage building (the facilities described in “(i)” and “(ii)” constituting the “SHA Leased Facilities”). Following the acquisition of the Project by SHA RAD LP from SHA, SHA RAD LP and SHA will enter into a lease with respect to the SHA Leased Facilities with SHA RAD LP as landlord and SHA as tenant. 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