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Legal Notices
NOTICE OF PUBLIC HEARING
The
Illinois Housing Development Authority (the “Authority”) gives
notice that it will hold a hearing on March 15, 2007, at 10:00
a.m. at the offices of the Authority located at 401 N. Michigan
Avenue, Suite 700, Chicago, Illinois 60611 in connection with
the proposed issuance by the Authority of not to exceed
$3,500,000.00 in aggregate principal amount of its tax-exempt
bonds and/or notes (collectively, the "Bonds"), in one or more
series, pursuant to a common plan of finance. The proceeds of
the Bonds will be used to finance, through new mortgage loans to
the Owner listed below (or an affiliate thereof), (i) the
multifamily residential housing property set forth below (the
“Development”), and (ii) the costs of issuance, capitalized
interest, and reserve funds for the Bonds.
Property Name and Address
|
Name of
Owner
|
Number of
Units
|
Original Principal Amount
(Not to Exceed)
|
|
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Brainard Landings
Apartments, Phase II
1103 N. State St.
Lincoln, IL 62656 |
Pedcor Investments-
2002-LV, L.P. |
46 |
$3,500,000.00
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The Authority is a body politic and corporate of the State of
Illinois created by the Illinois Housing Development Act, as
amended (20 ILCS 3805/1), for the purpose of assisting in the
financing of decent, safe and sanitary housing for persons and
families of low and moderate income in Illinois. The Authority
is authorized by the Act to issue the Bonds to finance the
Development described in this Notice.
This public hearing is being held to comply with the
requirements of Section 147(f) of the United States Internal
Revenue Code of 1986, as amended, and the relevant regulations
promulgated thereunder. Oral comments may be limited to ten
minutes. Written comments may also be submitted to, and
additional information obtained from, the Authority at its
offices at 401 N. Michigan Avenue, Suite 700, Chicago, Illinois
60611 at any time prior to the public hearing.
Date of Notice: March 1, 2007
DeShana L. Forney
Executive Director
Illinois Housing Development Authority
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