NOTICE OF PUBLIC HEARING
Notice is hereby given that on 15th day of April 2025, as required by Section 147(f) of the Internal Revenue Code of 1986, as amended, and in accordance with IRS Rev. Proc. 2020-21 (as modified by IRS Rev. Proc. 2020-49, Rev. Proc. 2021-39 and Rev. Proc. 2022-20), will be held by a representative, agent or hearing officer of the Public Finance Authority, a commission organized under and pursuant to the provisions of Sections 66.0301, 66.0303 and 66.0304 of the Wisconsin Statutes, as amended (the "Issuer") with respect to the proposed issuance of tax-exempt bonds, in one or more series under a plan of financing, as "qualified 501(c)(3) bonds" (as defined in section 145 of the Internal Revenue Code of 1986, as amended (the "Code")) in an aggregate maximum stated principal amount not to exceed $335,000,000 (the "Bonds") by the Issuer.
The hearing will commence at 11:00 am eastern time, or as soon thereafter as the matter can be heard. Interested parties may join the public hearing on the date and time indicated above via the following toll-free conference line by dialing 716-362-7629 and, when prompted, entering the meeting code 1234.
The Issuer proposes to issue the Bonds and to loan a portion of the proceeds thereof to the borrowers described below (the "Borrowers") and other affiliates of the Borrowers (collectively, the "Obligated Group") to finance and/or refinance various multifamily residential rental developments in various jurisdictions, including the following multifamily residential rental developments described below, along with their respective address and maximum amount of financing allocated for each development owned by the respective Borrower:
1. Up to $27,300,000 to AHPC Hub Tallahassee LLC, a Delaware limited liability company authorized to do business in Florida (or a related person or affiliate thereof) to finance and/or refinance a portion of the costs of acquiring and rehabilitating a multifamily residential rental development (the "Hub Tallahassee Project") known as The Hub at Tallahassee, located at 303 Ocala Road, Tallahassee, Florida 32304.
2. Up to $21,800,000 to AHPC Social Tallahassee LLC, a Delaware limited liability company authorized to do business in Florida (or a related person or affiliate thereof) to finance and/or refinance a portion of the costs of acquiring and rehabilitating a multifamily residential rental development (the "Social @ Tallahassee Project") known as Social @ Tallahassee, located at 1327 High Road, Tallahassee, Florida 32304.
3. Up to $27,300,000 to AHPC Social 1600 LLC, a Delaware limited liability company authorized to do business in Florida (or a related person or affiliate thereof) to finance and/or refinance a portion of the costs of acquiring and rehabilitating a multifamily residential rental development (the "Social 1600 Project" and together with the Hub Tallahassee Project and the Social @ Tallahassee Project, the "Projects") known as The Social 1600, located at 1600 Old Bainbridge Road, Tallahassee, Florida 32303.
The Affordable Housing Preservation Corporation, a Florida not for profit corporation and an organization exempt from federal income tax by virtue of being an organization described in section 501(c)(3) of the Code, is the sole member of each of the Borrowers and the Obligated Group members.
The Bonds will be special limited obligations of the Issuer payable solely from the loan repayments to be made by the Borrowers and the Obligated Group to the Issuer, and certain funds and accounts established by the bond indenture for the Bonds and a master indenture of the Obligated Group.
THE BONDS SHALL NOT REPRESENT OR CONSTITUTE A DEBT OR PLEDGE OF THE FAITH AND CREDIT OR THE TAXING POWER OF THE ISSUER, MARATHON COUNTY, WISCONSIN, THE STATE OF WISCONSIN OR ANY OF ITS POLITICAL SUBDIVISIONS OR, TALLAHASSEE, FLORIDA, THE STATE OF FLORIDA OR ANY OF THEIR POLITICAL SUBDIVISIONS.
All interested persons are invited to telephonically attend such public hearing to express their views concerning the approval of the issuance of the Bonds or related matters. Oral comments will be limited to 5 minutes per speaker. A person wishing to speak at the hearing will be asked to provide his or her name, address and the person(s) or entity(ies) he or she represents, if any, prior to speaking. Written comments will be accepted at cwalker@ancientcitycapital.com, Attention: Christopher Walker, but must be received by the close of the hearing.
This notice is published and the above-described hearing is to be held in accordance with IRS Rev. Proc. 2020-21 (as modified by IRS Rev. Proc. 2020-49, Rev. Proc. 2021-39 and Rev. Proc. 2022-20) and in satisfaction of the requirements of section 147(f) of the Code regarding the public approval prerequisite to the exemption from federal income taxation of the interest on the Bonds.
April 6,7,8,9,10,11,13 2025
LSAR0271006