STRATEGIC PRIORITY: Government Performance and Financial Management
AGENDA DATE: January 22, 2025
COUNCIL DISTRICT(S): 6, 11
DEPARTMENT: Office of Government Affairs
EXECUTIVE: Kimberly Bizor Tolbert
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SUBJECT
Title
A public hearing to receive comments concerning the issuance of tax-exempt revenue bonds in an amount not to exceed $152,000,000.00 by Public Finance Authority for the benefit of AIDS Healthcare Foundation to finance the cost of acquisition, construction and equipping of (i) a multifamily apartment building and related amenities to be located at 2330 W Northwest Highway, Dallas, Texas 75220 and (ii) a multifamily apartment building and related amenities to be located at 8051 Lyndon B Johnson Freeway, Dallas, Texas 75251, as required by 147(f) of the Internal Revenue Code of 1986, as amended (Code); and at the close of the public hearing consider host approval of a resolution authorizing the issuance of bonds as required by Section 147(f) of the Code - Financing: No cost consideration to the City (see Fiscal Information)
Body
BACKGROUND
AIDS Healthcare Foundation ("AHF" or the "Borrower"), a California nonprofit public benefit corporation as described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the "Code"), has requested that the Public Finance Authority (the "Authority"), issue one or more series of its tax-exempt revenue bonds and/or taxable revenue bonds in an aggregate principal amount not to exceed $152,000,000.00 ("Bonds") for the purpose of financing, refinancing, and/or reimbursing the cost of acquisition, construction, improvement, rehabilitation, equipping and furnishing various capital facilities in the state of Florida, the city of Dallas, the city of Gardena, California, and the city of Los Angeles, California. For the facilities located within the city of Dallas (the "City"), Section 147(f) of the Code requires that in order for the bonds t...
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