Public Hearing 03.09.2025

NOTICE OF TELEPHONIC PUBLIC HEARING

NOTICE IS HEREBY GIVEN that a public hearing will be held by the Housing Authority of the City of Columbia, South Carolina (the "Issuer"), on behalf of itself and the City of Columbia, South Carolina, on March 9 2026 at 9:30 AM or as soon thereafter as the matter can be heard (the "Public Hearing"), and will be held telephonically by the Issuer, in connection with the reissuance, solely for federal tax purposes, by the Issuer of its Multifamily Housing Revenue Note, Series 2022 (Haven at Palmer Pointe Project) (the "Note"), in an aggregate principal amount not to exceed $22,000,000. The tax-exempt Note is an issue of "exempt facility bonds" issued to finance a "qualified residential rental project" as defined in Section 142(a)(7) of the Internal Revenue Code of 1986, as amended (the "Code").  The Public Hearing is being held pursuant to Section 147(f)(2)(D) of the Code. 

Principal User of Notes and Project. The Issuer has issued the Note under a Funding Loan Agreement (the "Funding Loan Agreement") among the Issuer, JPMorgan Chase Bank, N.A., as initial funding lender (the "Initial Lender") and Zions Bancorporation, National Association (the "Fiscal Agent"), and has loaned the proceeds of such Note to Palmer Pointe, LLC (the "Sponsor") under a Project Loan Agreement (the "Project Loan Agreement"). The Sponsor has used the proceeds of the Note to finance the costs of acquisition, construction and equipping of an approximately 150-unit new multifamily housing development and ancillary facilities, including but not limited to parking facilities and recreational areas, located at 1135 Carter Street, Columbia, South Carolina 29204 (the "Project"), and a portion of the costs of financing, including certain reserves, capitalized interest and issuance costs.  The Project has been initially operated by Southern Development Management Company, Inc. and owned by the Sponsor.

Limited Obligations. The Note is payable by the Issuer solely and exclusively out of payments made and to be made by the Sponsor under the Project Loan Agreement, including the Revenues (as defined in the Funding Loan Agreement) pledged to the Fiscal Agent under the Funding Loan Agreement. The Note does not constitute an indebtedness of the Issuer, the State of South Carolina, or any political subdivision thereof within the meaning of any South Carolina constitutional provision or statutory limitation nor give rise to a pecuniary liability of the Issuer, the State of South Carolina, the City of Columbia, South Carolina (the "City") or any political subdivision of any of the foregoing. The Note does not constitute a charge against the general credit or taxing powers of the Issuer, the State of South Carolina, the City or any political subdivision of any of the foregoing. The Issuer has no taxing authority. 

Teleconference Only. Pursuant to Internal Revenue Service Revenue Procedure 2022-20, the Public Hearing will be conducted by the Issuer telephonically.  All persons who wish to provide comments or listen to the Public Hearing may join by calling toll free at 877-336-0711 (US Toll Free) using Participant Code: 24561502.  

Members of the public may submit oral or written comments to the Issuer to express their views for or against the proposed reissuance of the Note or the location and nature of the Project. All persons who wish to submit oral comments during the Public Hearing must contact the Issuer, not less than 24 hours prior to the Public Hearing, via email to cherrera@columbiahousingsc.org to inform the Issuer of their desire to speak at the Public Hearing. Those who present comments during the Public Hearing will be permitted to address the Issuer regarding the Project or the Notes for no more than five (5) minutes. Members of the public may submit views to the Issuer in writing via mail to Cindi Herrera, Chief Development Officer, Housing Authority of the City of Columbia, South Carolina, 1917 Harden Street, Columbia, South Carolina 29204, or via email to cherrera@columbiahousingsc.org The Issuer will not prepare a transcript of the Public Hearing. 

HOUSING AUTHORITY OF THE CITY OF COLUMBIA, SOUTH CAROLINA