Notice of Public Hearing Regarding the Issuance of Tax-Exempt Bonds for Milford Independent Elderly Housing Project
January 6, 2022
Notice is hereby given that a public hearing will be conducted by New Hampshire Housing Finance Authority in the Board Room located at 32 Constitution Drive, Bedford, New Hampshire at 12:30 p.m. on Tuesday, January 18, 2022. Pursuant to IRS Revenue Procedures 2020-21, 2020-39 and 2021-49, the hearing will also 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 144 453 6668. 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 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 $15,000,000 (the “Bonds”) (out of a total anticipated project cost of approximately $24,780,000). The Bonds are proposed to be issued to provide financing as permitted under the Act for the following multi-family housing project (the “Project”): (i) the acquisition (including land acquisition), rehabilitation, furnishing and equipping of a 66,476 gross square foot 70-unit affordable multi-family rental housing property located at 40 Bridge Street on a 1.19 acre site (referred to in the Tax Assessor’s office as Map 26, Lot 91) in the Town of Milford, County of Hillsborough, and State of New Hampshire (the “Existing Property”); (ii) the acquisition (including land acquisition) of a 14,198 gross square foot building (currently used for commercial purposes) located at 54 School Street (contiguous to the Existing Property except for separation by Bridge Street) on a .52 acre site (referred to in the Tax Assessor’s office as Map 26, Lot 169) in the Town of Milford, County of Hillsborough, and State of New Hampshire (the “Additional Property”); and (iii) the rehabilitation, furnishing and equipping of the Additional Property, including demolition of a 2,366 square foot section of that property and the construction, furnishing and equipping of a 12,236 square foot addition to the Additional Property, such that the Additional Property will be converted to 18 additional units of affordable multi-family rental housing encompassing 24,068 gross square feet, with the Existing Property and the Additional Property, as improved having an aggregate square foot building area totaling approximately 90,544 square feet, and with all or substantially all of the 88 units in the Project (70 existing units plus 18 units added as a result of the improvement and conversion of the Additional Property to multi-family rental housing) (with a fitness and arts and crafts center serving only Project tenants to be located in the Additional Property) expected to be occupied by tenants age 62 and older, and having incomes no greater than 60% of area median income. The owner of the Project will be Milford-HINEC Senior Housing LLC, a New Hampshire limited liability company, the sole member of which is Cynthia Milliken. The Bonds will not be a general obligation of New Hampshire Housing Finance Authority or a pledge of the faith and credit of New Hampshire Housing Finance 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 January 20, 2022.
For more information, or to send comments as outlined above, contact:
Jim Menihane, Director, MF Originations & Business Development
New Hampshire Housing Finance Authority
32 Constitution Drive | Bedford, NH 03110
Phone: 603-310-9273 | Fax: 603-310-9273