30 Aug TEFRA Notice (LHA Edge III)
NOTICE OF PUBLIC HEARING
HOUSING AUTHORITY OF THE CITY OF LOVELAND, COLORADO
MULTIFAMILY HOUSING REVENUE BOND
(THE EDGE APARTMENTS PHASE III)
NOTICE IS HEREBY GIVEN that a public hearing pursuant to Section 147(f) of the
Internal Revenue Code of 1986, as amended (the “Tax Code”) will be held by the Housing
Authority of the City of Loveland, Colorado dba Loveland Housing Authority (the “Authority”)
for the purpose of providing a reasonable opportunity for interested individuals to express their
views, either orally or in writing, on the proposed plan of financing providing for the issuance of
one or more separate issues of the above-captioned exempt facility bonds, notes or other
obligations, in one or more series (the “Bond”), for the qualified residential rental project
described below pursuant to Section 142(d) of the Tax Code.
The hearing will commence on Monday, September 16, 2024, at 8:00 a.m, Mountain
Time, and will be held at the Authority’s offices, 375 W. 37th St., Suite 200, in Loveland,
Colorado. Written comments to be presented at the public hearing may be emailed to the
Authority prior to the hearing at the following email: thoff@lovelandhousing.org.
The Authority has been requested to make available proceeds of the Bond, in a maximum
stated principal amount not exceeding $15,000,000, to finance a portion of the costs of the
acquisition, construction and equipping of an approximately 66-unit affordable multifamily
rental housing project in three buildings as the third phase of The Edge affordable housing
development, together with any functionally related and subordinate facilities (the “Project”), to
be located at 3705, 3715, and 3725 E. 15th Street in Loveland, Colorado. The expected initial
legal owner and principal user of the Project will be The Edge III LLLP, a Colorado limited
liability limited partnership, or another affiliated entity of the Authority.
THE BOND SHALL BE A SPECIAL, LIMITED OBLIGATION OF THE
AUTHORITY. THE AUTHORITY WILL NOT BE OBLIGATED TO PAY THE BOND OR
THE INTEREST THEREON, EXCEPT FROM THE ASSETS OR REVENUES PLEDGED
THEREFOR. IN NO EVENT SHALL THE STATE OF COLORADO, THE CITY OF
LOVELAND OR ANY OTHER POLITICAL SUBDIVISION THEREOF (OTHER THAN
THE AUTHORITY) BE LIABLE FOR THE BOND, AND THE BOND SHALL NOT
CONSTITUTE A DEBT OF THE STATE OF COLORADO, THE CITY OF LOVELAND OR
ANY OTHER SUCH POLITICAL SUBDIVISION. THE AUTHORITY DOES NOT HAVE
THE POWER TO PLEDGE THE GENERAL CREDIT OR TAXING POWER OF THE STATE
OR ANY POLITICAL SUBDIVISION THEREOF. THE AUTHORITY HAS NO TAXING
POWER.
The Authority will, at the above time and place, receive any written comments from and
hear all persons with views in favor of or opposed to the plan of financing, the proposed issuance
of the Bond and the use of the proceeds thereof to finance the Project.
It is intended that the interest payable on the Bond be excludable from the gross income
of the owners thereof for federal income tax purposes pursuant to the applicable provisions of the
59149977.2
Tax Code. A report of the hearing will be made to the City Council of the City of Loveland
which will consider the issuance of the Bond for approval. Approval by the City Council of the
Bond is necessary in order for the interest payable on the Bond to qualify for exclusion from the
gross income of the owners thereof for federal income tax purposes.
Dated August 29, 2024.
HOUSING AUTHORITY OF THE CITY OF
LOVELAND, COLORADO