Agenda Packets - 2021/06/14 - Laserfiche WebLink

Home Browse Search

EXHIBIT A NOTICE OF PUBLIC HEARING ON A HOUSING PROGRAM AND THE ISSUANCE OF BONDS FOR A MULTIFAMILY HOUSING PROJECT SKYLINE APARTMENTS PROJECT) NOTICE IS HEREBY GIVEN that the City Council of the City of Mounds View, Minnesota (the City") will meet on Monday, , 2021 at 7:00 p.m. in the City Hall at 2401 Mounds View Boulevard in the City for the purpose of conducting a public hearing on (i) a proposal of Skyline Apartments, Limited Partnership, a Minnesota limited partnership (or another entity to be formed by or affiliated with MWF Properties, LLC, the "Borrower"), that the City finance a multifamily housing development hereinafter described, pursuant to Minnesota Statutes, Chapter 462C, by the issuance of revenue bonds, in one or more series, and (ii) the adoption of a housing program for such bonds. The proceeds of such bonds will be used to (i) finance the acquisition, construction, and equipping of an approximately 112-unit rental housing facility to be located at the property currently identified as 4849 and 3943 Old Hwy 8 in the City; (ii) pay costs of issuance and other costs related to the issuance of the bonds; and (iii) fund capitalized interest and certain reserves, if necessary (collectively, the "Project"). The Project will be owned and operated by the Borrower. The maximum aggregate estimated principal amount of bonds or other obligations to be issued to finance the Project is $14,500,000. The bonds or other obligations if and when issued will not constitute a charge, lien or encumbrance upon any property of the City, and will be payable solely from revenues of the project, and will not be backed by the full faith and credit of the City but will be payable solely from sums paid by the Borrower pursuant to a revenue agreement. A copy of the housing program will be on file at City Hall, 2401 Mounds View Boulevard, Mounds View, Minnesota 55112, Monday through Friday until the date of the Public Hearing. At the time and place fixed for the Public Hearing, the City Council will give all persons who appear or submit comments in writing to the City Council prior to the hearing, an opportunity to express their views with respect to the proposal. In addition, interested persons may file written comments respecting the proposal with the City to the attention of , at (763) 717-4000 at or prior to said public hearing. Publish 12021 The Mounds View Vision A Thriving Desirable Community