TITLE
Title
HOLD PUBLIC HEARING AND CONSIDER ADOPTION OF RESOLUTION APPROVING FINANCING OF ACQUIRING CERTAIN MULITI-FAMILY AFFORDABLE HOUSING FACILITIES (AHF-BRENTWOOD CROSSING, LLC) WITH THE PROCEEDS OF NOT TO EXCEED $22 MILLION IN MULTI-FAMILY HOUSING REVENUE BONDS TO BE ISSUED BY THE PUBLIC FINANCE AUTHORITY OF WISCONSIN
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SPONSOR
Sponsor
Jeffrey Pooley Esq.,
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BACKGROUND
Background
The Bonds will be limited obligations of the Authority payable solely from the loan repayments to be made by the Borrower to the Authority,
and certain funds and accounts established by the bond indenture for the Bonds.
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BUDGET IMPACT
Budget Impact
NO COUNTY DOLLARS REQUIRED AND NO COUNTY LIABILITY
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RESOLUTION
...Resolution
A RESOLUTION
REGARDING THE ISSUANCE BY THE PUBLIC FINANCE AUTHORITY OF ITS SUBORDINATE MULTIFAMILY HOUSING REVENUE BONDS, IN ONE OR MORE SERIES, IN THE PRINCIPAL AMOUNT OF NOT EXCEEDING $22,000,000, FOR THE PURPOSE OF DEFRAYING THE COSTS OF ACQUIRING CERTAIN MULTI-FAMILY AFFORDABLE HOUSING FACILITIES LOCATED IN THE COUNTY; AND OTHER RELATED MATTERS.
WHEREAS, the Public Finance Authority (“Authority”), a State of Wisconsin bond issuing commission, acting by and through its Board of Directors, is authorized and empowered under and pursuant to the provisions of Sections 66.0301, 66.0303 and 66.0304 of the Wisconsin Statutes, as amended (“Act”), to issue bonds and enter into agreements with public or private entities for the purpose of financing capital improvements located within or without the State of Wisconsin and owned, sponsored or controlled by a participant, as defined in the Act;
WHEREAS, AHF-Brentwood Crossing, LLC, a Delaware limited liability company, of which Atlantic Housing Foundation, Inc., a South Carolina nonprofit corporation and organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (“Code”) (collectively, “Borrower”) has applied to the Authority to issue its Multifamily Housing...
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