NOTICE OF PUBLIC HEARING
NOTICE IS HEREBY GIVEN that the City Council of the City of Gridley at its regular meeting on Monday, February 6, 2012 will hold a public hearing and consider approval of the issuance by the California Affordable Housing Agency (“CalAHA”) of tax-exempt obligations (the “Bonds”) in the aggregate principal amount of approximately Four Million Three Hundred Thousand Dollars ($4,300,000), the proceeds of which will be applied to finance the acquisition and rehabilitation of a 56-unit multifamily housing development located at 200-210 Ford Street, Gridley, California 95948 known as the Gridley Springs Apartments (the “Project”). The owner of the Project will be DHI Springs Associates, L.P., a California limited partnership (the “Borrower”). A portion of the units in the Project will be occupied by persons or families of low or very low income. The hearing will be held pursuant to Section 147(d) of the Internal Revenue Code.
The Bonds will not constitute an indebtedness or obligation, or a pledge of the faith and credit of, the City. The Bonds will be special, limited obligations of CalAHA, payable solely from the revenues of the Project and other amounts pledged therefor.
All those interested in the matter are invited to attend and be heard at the meeting, which will commence at 7 p.m. and will be held in City Council Chambers, located at 685 Kentucky Street, Gridley, California. If you have any questions regarding the public hearing, please contact Rob Hickey, City Administrator of the City of Gridley, at (530) 846-5695.
Dated: January 11, 2012
