NOTICE OF PUBLIC HEARING ON PROPOSED REVENUE BONDS TO BE ISSUED BY THE HOUSING AUTHORITY OF THE CITY OF AUGUSTA, GEORGIA
Notice is hereby given that on the 21st day of May, 2026, at 11:00 a.m., at the Housing Authority of the City of Augusta, Georgia (the “Authority”) located at 1435 Walton Way, Augusta, Georgia 30901, a public hearing will be held in accordance with Section 147(f) of the Internal Revenue Code of 1986, as amended (the “Code”), concerning the proposed issuance of revenue bonds (the “Bonds”) by the Authority.
Proceeds of the Bonds will be loaned to SFRI MacArthur Park Apartments, LLC, a Delaware limited liability company, or an affiliate thereof (the “Borrower“), whose sole member is Sixteenth Floor Residential, Inc., a Texas nonprofit corporation and a charitable organization described under Section 501(c)(3) of the Code to finance the acquisition of that certain multifamily rental housing project commonly known as “MacArthur Park Apartments” located at 101 Little Rock Drive, Augusta Georgia 30309, together with related acquisition costs, capital improvements, if an, costs of issuance, reserves, capitalized interest and other related costs (the “Project”). The Bonds will be issued in an aggregate principal amount not to exceed $60,000,000. The hearing will be held before Douglas Freeman, Executive Director of the Authority, as designated hearing officer, or his designee, and may be continued or adjourned.
The Bonds will be a limited obligation of the Authority and do not constitute a general obligation of the State of Georgia, the consolidated government of Augusta-Richmond County, Georgia, or the Authority, nor are the Bonds payable in any manner by taxation, but are payable solely from the payments made by or on behalf of the Authority, pursuant to an agreement between the Authority and the Borrower, which are pledged to the payment of the Bonds. The issuance of Bonds will be in furtherance of the public purpose of the Authority. The Authority has no taxing power.
Interested persons wishing to express their views on the issuance of the Bonds or on the nature or location of the Project proposed to be financed during the public hearing may participate in the public hearing by attending the hearing in person. In order to facilitate the conduct of the public hearing, such persons may, but are not required to, provide advance notice of their desire to offer comments during the public hearing on the issuance of the Bonds or on the nature or location of the Project by e-mail to dfreeman@augustapha.org in advance of the hearing. A written Report on Public Hearing will be submitted to the Mayor of Augusta, Georgia and will include any written comments received.
Any interested party having views on the proposed issuance of the Bonds or the nature or location of the proposed Project may be heard at such public hearing.
Douglas Freeman
Designated Hearing
Officer or Designee