Notice of Telephonic Public Hearing - October 15, 2024

NOTICE OF TELEPHONIC PUBLIC HEARING

Notice is hereby given that a public hearing ("Public Hearing"), as required by Section 147(f) of the Internal Revenue Code of 1986, as amended ("Code"), will be held by the Housing Authority of the City of Columbia, South Carolina (the "Issuer") with respect to the proposed reissuance of its Multifamily Housing Revenue Bonds (Garden Lakes Apartments Project) Series 2022 ("Bonds"). The hearing will commence on October 15, 2024, at 10:00 a.m., or as soon thereafter as the matter can be heard, and will be held telephonically by the Authority.

The Issuer previously issued the Bonds in the aggregate principal amount of $34,885,000, the proceeds of which were used to make a loan to Garden Lakes, LP ("Borrower") to acquire, construct and equip a 288-unit multifamily housing development and ancillary facilities to be located at 1307 Mason Road, Columbia, South Carolina 29203 (the "Project") in Richland County, South Carolina (the "County"), and to pay the costs of issuance of the Bonds. The Project is currently owned and operated by the Borrower. The Bonds are an issue of "exempt facility bonds" issued to finance a "qualified residential rental project, as defined in Section 142(a)(7) of the Code.

The Issuer and the Borrower desire to undertake certain changes which will result in a reissuance of the Bonds in the aggregate principal amount of $9,160,000. The Bonds, when reissued, will be special, limited obligations of the Issuer payable solely out of the revenues derived from the repayment of the loan by the Borrower.
Pursuant to IRS Revenue Procedure 2022-20 allowing remote telephonic hearings to qualify as "public hearings" required for private activity bonds under Section 147(f) of the Code, the Public Hearing will be conducted telephonically and the public will not be able to attend in person. However, all persons who wish to listen to the public hearing may join by calling toll free at (877) 366-0711 (Toll Free) using meeting passcode: 24561502. Members of the public may submit oral or written comments to the Issuer to express their views for or against the proposed issuance of the Bonds or the location and nature of the Project. All persons who wish to submit oral comments during the Public Hearing must contact the Issuer, not less than 24 hours prior to the Public Hearing, via email to cherrera@columbiahousingsc.org to inform the Issuer of their desire to speak at the Public Hearing. Those who present comments during the Public Hearing will be permitted to address the Issuer regarding the Project or the Bonds for no more than five (5) minutes. Members of the public may submit views to the Issuer in writing via mail to LuCinda Herrera, Chief Development Officer, 1917 Harden Street, Columbia, South Carolina 29204, or via email to cherrera@columbiahousingsc.org. The Issuer will not prepare a transcript of the Public Hearing.