Public Hearing - Harborview Bond Issuing - May 8th
Notice is hereby given that a public hearing will be held by the Housing Authority of the City of Bridgeport, Connecticut (the “Authority”), on May 8, 2024, commencing at 11:00 am ET, by calling the following toll-free telephone number 888-273-3658 and when prompted insert Meeting ID 8795609#, for the purpose of providing a reasonable opportunity for interested individuals to express their views, either orally or in writing, on the issuance of the above-captioned exempt facility bonds, notes or other obligations issued pursuant to Section 142(a)(7) of the Internal Revenue Code of 1986, as amended (the “Bonds”) and the nature of the improvements and project described below. The Authority has been requested to make available proceeds from the sale of the Bonds to be issued pursuant to a plan of financing in an aggregate principal amount not exceeding $45,000,000 for the purpose of making a loan to an entity to be formed by Baldwin Holdings, Inc. or a subsidiary of Baldwin Holdings Inc., a non-profit 501(c)(3) instrumentality of the Authority, the purchaser of the below referenced project (the “Borrower”), in the maximum principal amount of $45,000,000, for the purpose of financing, refinancing and reimbursing the costs of the acquisition, design, rehabilitation, renovation, construction, equipping and furnishing of (1) an approximate 242 unit residential rental housing development located at 376 East Washington Avenue, Bridgeport, Connecticut and known as Harborview Towers, (2) funding a debt service reserve fund or other required reserve funds and a capitalized interest account for the Bonds, if any, and (3) paying costs of issuance and credit enhancement fees, if any, with respect to the Bonds (the “Project”).
The Project, financed and refinanced with the proceeds of the Bonds will be owned by the Borrower or any of its subsidiaries, affiliates or parent. The Project will be managed by Baldwin Holdings, Inc. or an affiliate or subsidiary of Baldwin Holdings, Inc. with the assistance of a Low Income Housing Tax Credit compliance consultant.
Interested members of the public are invited to attend by telephone. Written comments may be submitted to the Authority at the address shown below no later than May 8, 2024 at 11:00 am ET. If additional information is required with respect to the above-referenced proposed issue of the Bonds or the Project to be financed with the proceeds thereof in advance of the hearing, please contact the Authority at the address shown below. The public hearing described herein is to be held solely for the purpose of complying with the requirements of Section 147(f) of the Internal Revenue Code.
Housing Authority of the
City of Bridgeport
150 Highland Avenue
Bridgeport, Connecticut
06604
By: Jillian Baldwin
Chief Executive Officer