Volume 42 - Issue 32 - August 10, 2023
State of Kansas
Kansas Development Finance Authority
Notice of Hearing
A public hearing will be held at 9:00 a.m. August 25, 2023, in the conference room of Kansas Development Finance Authority (the “Authority”), 534 S. Kansas Ave., Suite 800, Topeka, Kansas, on the proposed issuance by the Authority in one or more series of (i) tax-exempt exempt facility revenue bonds (the “Supplemental Bonds”) in a principal amount not to exceed $680,000 and (ii) tax-exempt exempt facility revenue bonds (the “Reissued Bonds”) in a principal amount not to exceed $6,120,000 to refund and reissue the Authority’s Multifamily Housing Revenue Draw-Down Bonds (YMCA Lofts Project) Series 2019L (the “2019 Bonds”). The total maximum principal amount of tax-exempt obligations to be issued for the overall plan of finance of the Project is $6,800,000. The Supplemental Bonds will be issued pursuant to K.S.A. 74-8901 et seq. (the “Act”) to finance a portion of the costs of the acquisition, rehabilitation and equipping of a 44-unit qualified residential rental project under Section 142 of the Internal Revenue Code known as YMCA Lofts, located at or about 900 N. 8th St., Kansas City, Kansas (the “Project”). The proceeds of the 2019 Bonds were previously issued pursuant to the Act to finance a portion of the costs of the acquisition, rehabilitation and equipping of the Project. The Project was initially, and is currently, owned and operated by Y Lofts, LP, a Kansas limited partnership (the “Borrower”).
The Supplemental Bonds and the Reissued Bonds will be limited obligations of the Authority, payable solely from revenues pledged by the Borrower, and will not constitute a general obligation or indebtedness of the State of Kansas or any political subdivision thereof, nor will the Supplemental Bonds or the Reissued Bonds constitute an indebtedness for which the faith and credit and taxing powers of the State of Kansas are pledged, but the Supplemental Bonds and the Reissued Bonds will be payable solely and only from revenues pledged by the Borrower in amounts sufficient to pay the principal of, interest and redemption premium, if any, on the Supplemental Bonds and the Reissued Bonds.
Interested individuals may participate in the public hearing in person or via conference call. Please call 844-621-3956 and use conference identification number 145 880 8929 followed by # to join the conference.
At the time and place fixed for the hearing, all individuals who appear will be given an opportunity to express their views for or against the proposal to issue any specific Supplemental Bonds and/or Reissued Bonds, and all written comments previously sent to the Authority at its above-referenced offices will be considered. Additional information regarding the Project may be obtained by contacting the Authority at the address of its offices shown above.
Rebecca E. Floyd
President
Kansas Development Finance Authority
Doc. No. 051392
