Housing And Community Development Authority Hcda #PN-26-12

Public Hearing for Multifamily Housing Revenue Note (Heritage Trails) – Affordable Housing Project Financing in South Bend, Indiana

This opportunity involves the Indiana Housing and Community Development Authority (IHCDA) announcing a public hearing for the proposed issuance of a Multifamily Housing Revenue Note (Heritage Trails) to finance an affordable housing project in South Bend, Indiana. - Government Buyer: - Indiana Housing and Community Development Authority (IHCDA) - Project Overview: - Proposed issuance of Multifamily Housing Revenue Note, Series 2026 (Heritage Trails) - Maximum principal amount: $13,121,173 - Proceeds to be loaned to Heritage Trails South Bend, LP - Purpose: Acquisition, construction, improvement, and equipping of a multifamily housing complex - Project size: 180 affordable living units - Location: 314 W. Chippewa Ave., South Bend, Indiana - Financing Details: - Note may be issued in one or more taxable or tax-exempt series - Expected to be structured as exempt facility bonds under Section 142 of the Internal Revenue Code - Funds may also cover issuance costs and a debt service reserve fund - OEMs and Vendors: - No specific OEMs or vendors are mentioned in the notice - Unique/Notable Requirements: - Public hearing is required and public comments are invited - Compliance with state and federal requirements for tax-exempt financing - Focus on affordable housing development

Description

The Indiana Housing and Community Development Authority (IHCDA) will hold a public hearing on April 21, 2026, regarding the issuance of its Multifamily Housing Revenue Note, Series 2026 (Heritage Trails) with a maximum principal amount of $13,121,173. The proceeds will be loaned to Heritage Trails South Bend, LP for acquiring, constructing, and equipping a multifamily housing complex with 180 affordable living units in South Bend, Indiana. The note will be issued under IC 5-20-1 and is expected to be exempt facility bonds under Section 142 of the Internal Revenue Code. Public comments can be submitted in writing or via a toll-free conference call during the hearing.

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