Odessa Housing Finance Corporation
Notice of Public Hearing

 

In accordance with Section 147(f) of the Internal Revenue Code of 1986, as amended (the “Code”) and Section 394.9025 of the Texas Housing Finance Corporations Act, Chapter 394, Texas Local Government Code, as amended, notice is hereby given that the Odessa Housing Finance Corporation (the “Corporation”) will hold a public hearing at the Odessa Housing Finance Corporation office, 3801 N. Dixie, Odessa, Texas 79762 on Wednesday, July 8, 2020, at 10:30 a.m. local time.

 

The purpose of the public hearing is to provide residents of the City of Odessa, Texas (the “City”) an opportunity to comment on the proposed issuance by the Corporation of its Multifamily Housing Revenue Bonds or Tax Exempt Notes to be issued in one or more series (the “Bonds”) in an aggregate face amount of not more than $35,000,000. The Bonds will be used for the benefit of Vera Odessa, L.P., a Texas limited partnership (the “Borrower”), in connection with the acquisition, construction, financing and equipping of an approximately 288-unit multifamily housing development to be located approximately at the intersection of Highway 191 and Castlegate Lane, Odessa, Midland County, Texas 79765 or adjacent thereto (the “Development”). The Borrower will own the Development. It is anticipated that a wholly-owned affiliate of the Corporation will own the land on which the Development is located and lease such land to the Borrower. Further, it is anticipated that the Corporation will be the sole member of the general partner of the Borrower. 

 

            The Bonds will be limited obligations of the Corporation, payable solely from the revenues, receipts and resources of the Corporation pledged to their payment. The Bonds will not constitute an indebtedness or obligation of the City (or any other city, county or other municipal or political corporation or subdivision of the State of Texas) or of the State of Texas, or a loan of credit of any of them, within the meaning of any constitutional or statutory provision.

 

            All interested persons that attend the public hearing will be given the opportunity to present written or oral comments on the proposed issuance of the Bonds at a designated point in the public hearing. Interested persons may also present oral comments during the hearing by calling (432) 362-2349 promptly at 10:30 a.m. local time on Wednesday, July 8, 2020. Questions or written comments prior to the date of the hearing may be directed to the attention of Jill Miller, Executive Director of the Corporation at 3801 N. Dixie, Odessa, Texas 79762, fax number: 432-362-4200.

In accordance with Section 326 of the USA PATRIOT Act of 2001, OHFC NMLS: 226743 is required to obtain a copy of the documents used in identifying our new account customers. This notice is being provided to you for adequate notice given under this act.

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