The Washington State Housing Finance Commission (the Commission) will hold an open public hearing for the purpose of considering the issuance by the Commission of one of more series of taxexempt revenue obligations (the Notes) to finance a portion of the costs for the new construction of a multifamily housing facility for seniors, to be owned by Crossroads Senior Living Associates (2017), LLC, a Washington limited liability company. The public hearing will be held starting at 1:00 p.m., Thursday, October 26, 2017 in the 28th Floor Board Room of the Commissions offices located at 1000 Second Ave., Seattle, Washington 981043601.
The Notes will be issued pursuant to Chapter 43.180 Revised Code of Washington, and the Internal Revenue Code of 1986, as amended (the Code).
The proceeds of the Notes will be used to provide financing for the following project:
Project: Crossroads Senior Living
Project Address: 1390 158th Place NE
(in the Crossroads Shopping Center)
Bellevue, WA 98008
Total Estimated Project Cost: $36,500,000
Estimated Maximum Note Amount: $30,500,000
Proceeds of the Notes will be used to provide a portion of the financing for the long-term lease of land and the construction of a 185-unit multifamily housing facility for seniors and to pay a portion of the costs of issuing the Notes. Each apartment will be a complete and separate dwelling unit consisting of living, eating and sanitation facilities. A percentage of the total units will be set aside for persons or households with low incomes.
This notice is intended to comply with the public notice requirements of Section 147(f) of the Internal Revenue Code of 1986, as amended. Written comments with respect to the proposed Project and the proposed Notes may be mailed or faxed to the attention of Jason Hennigan, WSHFC, MHCF Division, 1000 Second Avenue, Suite 2700, Seattle, WA 98104-3601 or to (206) 587-5113, for receipt no later than 5 p.m. on Wednesday, October 25, 2017. Public testimony will be heard from all interested members of the public attending the hearing. The Commission will consider the public testimony and written comments in determining if the project will receive funding from taxexempt obligations. Testimony and written comments regarding land use, zoning and environmental regulation should be directed to the local jurisdiction that is authorized to consider these matters when issuing building permits for the project.
Anyone requiring an accommodation consistent with the Americans with Disabilities Act should contact the MHCF division at 206-464-7139 or 1-800-767-HOME (in state) at least 48 hours in advance of the hearing.
The results of the hearing will be sent to the Governor for approval.
PostedOctober 12, 2017