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CITY OF SWEETWATER NOTICE OF PUBLIC HEARING Notice is hereby given that on Monday, July 7, 2025, a public hearing, as required by Section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code"), will be held by the City of Sweetwater, Florida, with respect to the proposed issuance of tax-exempt bonds in one or more series under a plan of finance, as "qualified 501(c)(3) bonds" (as defined in Section 145 of the Code) in an aggregate maximum stated principal amount not to exceed $300,000,000 (the "Bonds") by Public Finance Authority, a commission organized under and pursuant to the provisions of Sections 66.0301, 66.0303 and 66.0304 of the Wisconsin Statutes, as amended (the "Issuer"). The hearing will commence at 5:45 pm, or as soon thereafter as the matter can be heard, and will be held at the City of Sweetwater's office at Commission Chambers, 500 S.W. 109 Avenue, Sweetwater, FL 33174. The Bonds are expected to be issued pursuant to Section 66.0304 of the Wisconsin Statutes, as amended. The Issuer proposes to issue the Bonds under a plan of financing as "qualified 501(c)(3) bonds" (as defined in Section 145 of the Code) in an aggregate maximum stated principal amount not to exceed $300,000,000, and to loan the proceeds thereof to Tech Tower Owner, LLC, a Florida limited liability company (the "Borrower"), to finance (i) the cost of acquiring, constructing, developing and equipping a multi-family affordable housing rental facility and certain ancillary facilities related thereto, such as parking facilities and commercial facilities approved by the City of Sweetwater, Florida, to be known as Tech Tower and to be located at 10921 SW 7th Street, Sweetwater, Florida 33174 (the "Facility"), (ii) the funding of capitalized interest on the Bonds, (iii) the funding of one or more reserve funds for the Bonds, and (iv) the payment of certain costs of issuing the Bonds (collectively, the "Project"). The Facility will be initially owned by the Borrower. Affordable Housing Preservation Corporation, a Florida not-for-profit corporation and an organization exempt from federal income tax by virtue of being an organization described in section 501(c)(3) of the Code, is the sole member of the Borrower. The Bonds will be special limited obligations of the Issuer payable solely from the loan repayments to be made by the Borrower to the Issuer, and certain funds and accounts established by the bond indenture for the Bonds. THE BONDS SHALL NOT REPRESENT OR CONSTITUTE A DEBT OR PLEDGE OF THE FAITH AND CREDIT OR THE TAXING POWER OF THE ISSUER, MARATHON COUNTY, WISCONSIN, THE STATE OF WISCONSIN, MIAMI-DADE COUNTY, FLORIDA, SWEETWATER, FLORIDA, THE STATE OF FLORIDA OR ANY OF THEIR POLITICAL SUBDIVISIONS. The hearing will provide a reasonable opportunity to be heard for persons wishing to express their views concerning the approval by the City of Sweetwater, Florida of the Project, the issuance of the Bonds or related matters. Oral comments will be limited to 10 minutes per speaker. A person wishing to speak at the hearing will be asked to provide his or her name, address and the person(s) or entity(ies) he or she represents, if any, prior to speaking. Written comments will be accepted by the City of Sweetwater, Florida at 500 S.W. 109 Avenue, Sweetwater, FL 33174, but must be received by the close of the hearing.
Post Date: 06/27 12:00 AM
Refcode: #IPL0249245 
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