January 15th Sandy Ridge Public Hearings Multifamily Housing
Notice of Public Hearing On Proposed
Multifamily Housing Revenue Bonds Financing
By the Housing Authority of the City of Durham
- Sandy Ridge Station Public Hearing on proposed plan
- Sandy Ridge Villas Public Hearing on proposed plan
Sandy Ridge Station Public Hearing
Notice is hereby given that a Hearing Officer of the Board of Commissioners of the Housing Authority of the City of Durham (the "Authority") will hold a public hearing on its proposed plan to issue multifamily housing revenue bonds, in one or more series, in an amount up to $22,000,000 (the "Bonds") for the financing of the acquisition, construction and equipping by KB Carver LLC, a North Carolina limited liability company, or an affiliated or related entity (the "Borrower"), of a qualified residential rental project (as defined in Section 142(d) of the Internal Revenue Code of 1986, as amended) to be known as Sandy Ridge Station (the "Development"). The Development will consist of approximately 132 units and other related improvements to be located at approximately 535-903 Old Oxford Road in the City of Durham, Durham County, North Carolina. The Development will be owned or operated by the Borrower.
The Bonds, when and if issued by the Authority, will be issued pursuant to Article 1 of Chapter 157 of the General Statutes of North Carolina and shall not be a debt of the State of North Carolina (the "State"), the City of Durham, North Carolina (the "City"), the Authority or any political subdivision thereof and none of the State, the City, the Authority, or any political subdivision thereof shall be liable thereon, nor in any event shall the Bonds be payable out of any funds or properties other than those of the Authority derived solely from payments made by the Borrower.
Sandy Ridge Villas Public Hearing
Notice is hereby given that a Hearing Officer of the Board of Commissioners of the Housing Authority of the City of Durham (the "Authority") will hold a public hearing on its proposed plan to issue multifamily housing revenue bonds, in one or more series, in an amount up to $11,000,000 (the "Bonds") for the financing of the acquisition, construction and equipping by KB Carver II LLC, a North Carolina limited liability company, or an affiliated or related entity (the "Borrower"), of a qualified residential rental project (as defined in Section 142(d) of the Internal Revenue Code of 1986, as amended) to be known as Sandy Ridge Villas (the "Development"). The Development will consist of approximately 66 units and other related improvements to be located at approximately 835 Old Oxford Road in the City of Durham, Durham County, North Carolina. The Development will be owned or operated by the Borrower.
The Bonds, when and if issued by the Authority, will be issued pursuant to Article 1 of Chapter 157 of the General Statutes of North Carolina and shall not be a debt of the State of North Carolina (the "State"), the City of Durham, North Carolina (the "City"), the Authority or any political subdivision thereof and none of the State, the City, the Authority, or any political subdivision thereof shall be liable thereon, nor in any event shall the Bonds be payable out of any funds or properties other than those of the Authority derived solely from payments made by the Borrower.
The public hearing, which may be continued or adjourned, will be held on January 15, 2025, at 3:00 p.m. (or as soon thereafter as the hearing is held) in the DHA Boardroom at 423 Morris Street, Durham, North Carolina. Any person interested in the issuance of the Bonds, or the Development may appear and be heard at the public hearing. Any person wishing to comment in writing on the Development or the issuance of the Bonds should do so no later than January 15, 2025, by mailing such comments to Anthony Snell, Interim Chief Executive Officer, Housing Authority of the City of Durham, 423 Morris Street, Durham, North Carolina 27701.
Housing Authority of the City of Durham
Anthony Snell
Interim Chief Executive Officer
