The Health, Educational and Housing Facility Board

 NOTICE OF SUPPLEMENTAL PUBLIC HEARING OF THE HEALTH, EDUCATIONAL AND HOUSING  FACILITY BOARD OF THE CITY OF MEMPHIS, TENNESSEE RELATIVE A PROPOSED REVENUE BOND ISSUE

NOTICE IS HEREBY GIVEN that Charles E. Carpenter, Esq., General Counsel to The Health, Educational and Housing Facility Board of the City of Memphis, Tennessee (the “Board”) has been appointed as representative of the Board to hold a public hearing, as required under Section 147(f) of the Internal Revenue Code of 1986, as amended (the “Code”), on Wednesday, January 18, 2023 at 10:30 a.m. CST. Due to prevailing law, including Rev. Proc. 2022-20, there will be NO physical meeting. Access to and participation in the public hearing will be made available virtually by dialing into 1-866-730-7514, passcode 216716#, at which time there will be an opportunity for persons to express their views concerning a request that the Board issue, pursuant to a plan of finance, its Multifamily Housing Revenue Bonds (Edgeview at Legends Park), Series 2023, in one or more series, in an aggregate principal amount not to exceed Fifteen Million Dollars ($15,000,000) (the “Bonds”), the proceeds thereof to be loaned to Legends Park Senior, LLC, a Tennessee limited liability company, or an affiliate thereof (the "Borrower"), for the purposes of acquiring, constructing and equipping an aggregate of 99-unit multi-family senior residential rental facility to be known as Edgeview at Legends Park Senior Apartments to be constructed on a vacant approximately 3.82 acre parcel of land located at 981 Peach Avenue, Memphis, Shelby County, Tennessee 38105 (the “Project”) within the Legends Park community, and to the extent permitted and if necessary, to pay certain costs of issuance, funding a capitalized interest fund, debt service reserve fund and escrow fund. The Project will be initially managed by Pennrose Management Company, and the expected initial principal user is the Borrower.  

The Bonds will be issued pursuant to Part 3, Chapter 101, Title 48 of the Tennessee Code Annotated (the “Act”). THE BONDS IF ISSUED SHALL NOT REPRESENT OR CONSTITUTE A DEBT OR PLEDGE OF THE FAITH AND CREDIT OR THE TAXING POWER OF THE BOARD, THE CITY OF MEMPHIS, THE STATE OF TENNESSEE, OR ANY POLITICAL SUBDIVISION THEREOF. NOR SHALL THE BONDS BE PAYABLE FROM ANY FUNDS OR PROPERTY OTHER THAN THOSE PLEDGED TO THE PAYMENT THEREOF. THE BONDS WILL BE PAYABLE SOLELY FROM REVENUES DERIVED FROM THE PROJECT. THE BOARD HAS NO TAXING POWER.

Further information concerning this hearing can be obtained from: The Health, Educational and Housing Facility Board of the City of Memphis, Tennessee, 65 Union Avenue, Suite 1120, Memphis, Tennessee 38103, (901) 527-6400, website: www.memphishehf.com. Any person interested in the issuance of the Bonds or the location or purpose of the assets to be financed with the proceeds of the Bonds is invited to attend the public hearing (which may be continued or adjourned to a later date), and they will be given an opportunity to express their views both orally and in written form concerning the proposed issuance of the Bonds and the financing of the Project with the proceeds thereof.

This Notice is given pursuant to the provisions of the Act, Sections 8-44-101 to 8-44-111 inclusive of the Tennessee Code Annotated, and Section 147(f) of the Code.

Daniel T. Reid, Chairman, The Health, Educational and Housing Facility Board of the City of Memphis, Tennessee