For Immediate Release
June 9, 2020
SDHDA Contact: Mark Lauseng
SOUTH DAKOTA HOUSING DEVELOPMENT AUTHORITY
NOTICE OF HEARING ON BOND ISSUE
The South Dakota Housing Development Authority (SDHDA) will hold a public hearing pursuant to Section 147(f) of the Internal Revenue Code of 1986 on Friday, June 19, 2020, at 9:00 a.m., at SDHDA’s Conference Room, 3060 East Elizabeth Street, Pierre, South Dakota, and via Skype business meeting platform in which participants may join by telephone at the following numbers: 1-605-773-7615 or toll free at 1-844-773-7615. Access code for both numbers is 61672#. This hearing is for the proposed issuance of multifamily housing bonds in an aggregate principal amount not to exceed $20,000,000 for the purpose of financing the construction of a 60-unit apartment building for Sunnycrest Village and refunding bonds previously issued to finance a 60-unit apartment building for such Village. The owner and operator of the development will be Sunnycrest Village South, LLC, a South Dakota entity or an affiliate thereof. The buildings will be located at 3900 S. Terry Avenue, in the City of Sioux Falls, South Dakota.
The proceeds received by SDHDA from the sale of the bonds, net of cost of issuance and the establishment of reserves, will be loaned to the developer for the construction of the development or the refunding of the outstanding bonds described above. The bonds will be payable from loan repayments to be made by the owner and other revenues pledged by SDHDA. Neither SDHDA nor the State of South Dakota will be liable thereon and the bonds will not be a debt of the state.
All persons interested will be given an opportunity to express their views at the hearing, or may present their views in writing addressed to the undersigned prior to the hearing, which written comments will be considered at the hearing.
Notice is further given to individuals with disabilities that this hearing is being held in a physically accessible place. Please notify SDHDA 48 hours before the public hearing if you have special needs for which SDHDA will need to make arrangements.
SDHDA does not discriminate against any person because of race, color, religion, sex, handicap, familial status or national origin.
South Dakota Housing Development Authority
PO Box 1237
Pierre, SD 57501
About South Dakota Housing Development Authority: South Dakota Housing Development Authority (SDHDA) was created by the South Dakota legislature in 1973 with a stated mission to provide decent, safe and affordable housing to low- and moderate-income South Dakotans. SDHDA is a self-supporting, nonprofit entity. SDHDA utilizes housing bonds, tax credits and other federal and state resources to fund housing programs that provide mortgage and downpayment assistance, housing construction and rehabilitation, homelessness prevention and rental assistance. SDHDA does not discriminate against any person because of race, color, creed, religion, sex, disability, familial status or national origin. For more information, visit www.sdhda.org
The South Dakota Housing Development Authority…Building A Better Quality of Life.