NOTICE OF A PUBLIC HEARING ON A HOUSING PROGRAM AND THE AUTHORIZATION OF THE ISSUANCE OF MULTIFAMILY HOUSING REVENUE OBLIGATIONS UNDER MINNESOTA STATUTES, CHAPTER 462C, TO FINANCE A MULTIFAMILY HOUSING DEVELOPMENT NOTICE IS HEREBY GIVEN that the Community Development and Regulatory Services Committee of the Minneapolis City Council, on behalf of the City of Minneapolis (the "City"), will hold a public hearing on Tuesday, June 20, 2017, on or after 1:30 p.m. in the Council Chambers (Room 317) at City Hall in the City to consider a housing program for the issuance of revenue obligations under Minnesota Statutes, Chapter 462C, as amended (the "Act"), to finance in part a multifamily housing development in the City (the "Program"). Following the public hearing, the Council will consider a resolution approving the Program, authorizing the issuance of conduit revenue obligations (the "Obligations") under the Act to finance the Program, and authorizing certain actions to be taken with respect to the Program and the Obligations. The face amount of the Obligations proposed to be issued to finance the Program is presently estimated to not exceed $9,000,000. The Obligations may be issued in one or more series of tax-exempt or taxable obligations. The project proposed to be financed under the Program (the "Project") consists of the acquisition, construction, and equipping of an approximately 169-unit multifamily rental housing development to be located at 815 South Sixth Street in the City for occupancy by persons and families of low-andmoderate income (the "Project"). The Project will be developed and initially owned and operated by East Town Apartments Limited Partnership, a Minnesota limited partnership, or its affiliates or assigns (the "Borrower"). The Obligations will be issued by the City and will be limited obligations of the City payable solely from the revenues pledged to the payment thereof. The Obligations will not constitute general or moral obligations of the City and will not be secured by the taxing powers of the City or other assets of the City (other than the interests of the City in the Project). At said time and place all parties who appear shall be given an opportunity to express their views with respect to the Program and the proposal to issue the Obligations to finance the Program and the Project. For sign language interpreting call 612-673-2626TTY. For further information, please contact Dollie Crowther, (612) 673-5263. June 3, 2017 MN475-076 (SEL) 499524v.76
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