Notice is hereby given that the Dakota County Community Development Agency (the “CDA") will meet on Tuesday, April 18, 2023, at or after 3:30 p.m. at 1228 Town Centre Drive, Eagan, Minnesota for the purpose of conducting a public hearing in accordance with Minnesota Statutes, Chapter 462C and Section 147(f) of the Internal Revenue Code of 1986, as amended, regarding the adoption of a housing finance program (the “Program") and a plan of finance, including the issuance of the Bonds described below. The Program provides for the issuance by the CDA of not to exceed $45,000,000 of multifamily housing revenue notes or bonds in one or more series (the “Bonds"), the proceeds of which will be loaned to Rosemount AH I, LLLP, a Minnesota limited liability limited partnership (the “Owner"), to finance the acquisition, construction and equipping of a multifamily rental housing development consisting of 160 units and certain functionally related improvements thereto, designed for occupancy by low and moderate income households (the “Project") located near the southwest corner of Akron Avenue and 145th Street West in the City of Rosemount, Minnesota.
The Bonds will be issued in an aggregate initial principal amount anticipated not to exceed $45,000,000. The Bonds shall be limited obligations of the CDA and the principal and interest thereon shall be payable solely from the revenues and proceeds pledged to the payment thereof. No holder of any such Bonds shall ever have the right to compel the exercise of any taxing power of the CDA to pay the Bonds, or the interest thereon, nor to enforce payment against any property of the CDA except the Project.
All persons interested can participate in one or both of the following ways:
- All persons interested may appear and be heard at the time and place set forth above.
- The public may comment in writing or via voicemail. Any comments and materials submitted by noon of the day of the meeting will be attached to the public record and available for review by the Board. Comments may be submitted to the Clerk of the Board via email at firstname.lastname@example.org or by voicemail at 651-675-4434.