NOTICE OF PUBLIC HEARING REGARDING ISSUANCE OF MULTIFAMILY HOUSING REVENUE BONDS FOR ST.TIMOTHY’S TOWER & ST. TIMOTHY’S MANOR APARTMENTS
NOTICE IS HEREBY GIVEN that, at 5:30 p.m., or as soon thereafter as the matter can be heard, on Tuesday, March 22, 2016, at the City Hall Council Chambers, 205 South Willowbrook Avenue, Compton, California, the City Council of the City of Compton (the “City”) will conduct a public hearing as required by Section 147(f) of the Internal Revenue Code of 1986, at which it will hear and consider information concerning a proposed plan of financing providing for the issuance by the California Statewide Communities Development Authority of multifamily housing revenue bonds in one or more series issued from time to time, including bonds issued to refund such revenue bonds in one or more series from time to time, and at not time to exceed $18,000,000 in outstanding aggregate principal amount, to finance the acquisition and rehabilitation of a 135-unit senior multifamily rental housing project located at 425 S. Oleander Avenue, Compton, California. The facilities are to be owned by St. Timothy’s Preservation, L.P., a California limited partnership (the “Borrower”), operated by Levine Management Group and are generally known as St. Timothy’s Tower & St. Timothy’s Manor Apartments (the “Project”).
Those wishing to comment on the proposed financing and the nature and location of the Project may either appear in person at the public hearing or submit written comments, which must be received by the City prior to the hearing. Written comments should be sent to City of Compton at 205 South Willowbrook Avenue, Compton, California 90220, Attention: City Clerk.
CITY OF COMPTON
Dated: March 8, 2016