Notice is hereby given that the Board of the Redevelopment Authority of the County of Lancaster, Pennsylvania (the “Authority”) on behalf of the Board of Commissioners of Lower Swatara Township, Dauphin County; has scheduled a public meeting and will hold a public hearing on September 26, 2017 at 4:30 p.m. in the Offices of the Authority located at 28 Penn Square, Suite 200, Lancaster, Pennsylvania 17603 to discuss and take comment with respect to the financing by the Authority of the following project with exempt facility bonds for qualified residential rental projects pursuant to Section 142(d) of the Internal Revenue Code of 1986, as amended (the “Code”):
Bond 3 LP Project
NAME OF APPLICANT,
INITIAL OWNER, AND OPERATOR:
Bond 3 LP
c/o Housing Development Corporation MidAtlantic
4-6 West King Street
Lancaster, PA 17603
ADDRESS OF PROJECT:
Springwood Glen Apartments
1901 Georgetown Road
Middletown, PA 17057
(Lower Swatara, Dauphin County)
TOTAL COST OF PROJECT:
Not to exceed $20,000,000 at the location listed above
TOTAL AMOUNT OF ISSUE:
Not to exceed $20,000,000
Proceeds of the Bonds will be used to finance, among other things, (i) the acquisition and rehabilitation of the low income residential rental housing projects known as Springwood Glen Apartments, (ii) the funding of capitalized interest on the Bonds, (iii) the funding of a debt service reserve fund, and (iv) the payment of a portion of the costs of issuance of the Bonds.
Members of the public are invited to attend the aforesaid public hearing and meeting.
The attending public, on their own behalf or by attorney, are urged to provide information
and make statements concerning the aforesaid project. Members of the public wishing to
be heard will need to register at the hearing. Oral comments will be limited to not more
than three minutes per speaker.
BOND FINANCINGS OF THE REDEVELOPMENT AUTHORITY OF THE
COUNTY OF LANCASTER ARE NOT OBLIGATIONS OF THE COMMONWEALTH OF PENNSYLVANIA, THE COUNTY OF LANCASTER, NOR OF ANY CITY, BOROUGH, TOWNSHIP, OR OTHER POLITICAL SUBDIVISION OF THE COMMONWEALTH OF PENNSYLVANIA.
This Notice is published in accordance with the requirements of Section 147(f) of the Code.
REDEVELOPMENT AUTHORITY OF THE
COUNTY OF LANCASTER