TEFRA Public Hearing Notice – Province Street Apartments
May 5, 2023
Notice is hereby given that on Wednesday May 24, 2023, at 6:00 PM New Hampshire Housing Finance Authority (NH Housing) will hold a public hearing in the City Council Meeting Room (upper floor, ADA accessible) at Laconia City Hall, 45 Beacon St E, Laconia, NH. The hearing is with respect to the proposed issuance by NH Housing, 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 approximately $26,957,000). The Bonds are proposed to be issued to provide financing as permitted under the Act to fund the following multi-family housing project to be financed in part by tax-exempt bond proceeds (the “Project”): the acquisition of a 10.30 acre site located at 244 Province Street (referred to in the Tax Assessor’s office as Map 473, Block 188, Lot 1 and Map 458, Block 205, Lot 20) in the City of Laconia, County of Belknap, and State of New Hampshire ), and the construction, furnishing and equipping on such site of a 90-unit multi-family residential rental housing development consisting of three buildings that will have an aggregate square foot building area totaling approximately 116,046 square feet, and with 61 of the units expected to be occupied by tenants having incomes no greater than 60% of area median income, 20 of the units expected to be occupied by tenants having incomes no greater than 30% of area median income, and 9 of the units not having income restrictions. The owner of the Project will be Province Street Apartments, LLC, a New Hampshire limited liability company, the managing member of which will be AR2B, LLC. The Bonds will not be a general obligation of NH Housing, 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 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, Multifamily Originations & Business Development
New Hampshire Housing Finance Authority
32 Constitution Drive
Bedford, NH 03110