Public Hearing - Benefity of PHG Philips Tower, LP
NOTICE OF PUBLIC HEARING ON PROPOSED
REVENUE BONDS TO BE ISSUED BY
THE HOUSING AUTHORITY OF THE CITY OF DECATUR, GEORGIA
FOR THE BENEFIT OF PHG PHILIPS TOWER, LP
Notice is hereby given, pursuant to IRS Rev. Proc. 2022-20, that on August 21, 2023 at 10:30 a.m., a toll free, telephonic public hearing will be held on behalf of the Housing Authority of the City of Decatur, Georgia (the "Authority") by calling (833) 874-0551 concerning the proposed issuance of revenue bonds (the "Bonds") by the Authority in an aggregate principal amount not to exceed $35,000,000, for the purpose of assisting PHG Philips Tower, LP, a Georgia limited partnership (hereinafter referred to as the "Borrower"), with the acquisition, rehabilitation and equipping of an existing 219-unit multifamily housing project for seniors known as Philips Tower, located on an approximately 1.6+/- acre site at 218 E. Trinity Place, Decatur, Georgia (the "Project").
The hearing will be held before Douglas S. Faust, Executive Director of the Authority, as designated hearing officer, or his designee, and may be continued or adjourned.
The Bonds are the limited obligation of the Authority and do not constitute a general obligation of the State of Georgia (the "State"), the City of Decatur, Georgia, the Authority or any political subdivision of the State, nor are the Bonds payable in any manner by taxation, but are payable solely from the payments made by the Borrower, pursuant to an agreement between the Authority and the Borrower, which are pledged to the payment of the Bonds. The issuance of the Bonds will be in furtherance of the public purpose of the Authority. The Authority has no taxing power.
Further information regarding the proposed Bonds and the Project to be financed are of public record in the office of the Housing Authority of the City of Decatur, Georgia at 750 Commerce Drive, Suite 400, Decatur, Georgia 30030, Attn: Executive Director.
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 S. Faust Designated Hearing Officer or Designee