Legal Notice: Notice of Public Hearing Concerning Issuance of Bonds or Other Obligations to Finance Residential Rental Housing Projects December 2, 2024
Notice is hereby given that the Community Development Administration (the “Administration”), a unit of the Division of Development Finance of the Maryland Department of Housing and Community Development, will conduct a public hearing from 11:30 AM to 12:00 PM, on Monday, December 2nd, 2024.
This public hearing will be conducted solely via teleconference. Parties interested in participating in the public hearing should call (toll free) 1-800-201-5203 PIN: 571234 during the public hearing time.
All members of the public are invited to participate in the hearing which will concern the plan of financing, including the loan funded from the proceeds of private activity bonds issued by the Administration and/or the State of Maryland (the “State”) acting through its Board of Public Works, for financing the acquisition, construction, renovation, rehabilitation or other costs of the multifamily residential rental housing project listed below (the “Project”) in an amount not to exceed the maximum aggregate amount of private activity bond obligations to be issued for such Project as set forth below (or refunding of any obligation by other obligations in amounts up to such maximum aggregate principal amount).
Additional information relating to the bonds to be issued and the Project is available upon request by writing to Benedict Durant at 7800 Harkins Road, Lanham, MD 20706, emailing [email protected], or calling 301-429-7823.
| Project | Units | Prospective Address | Initial Owner, Operator, Manager | Maximum Aggregate Amount of Obligations to be Issued |
|---|---|---|---|---|
| Lorelly, Sinclair, Bowie Commons | 239 | Lorelly – 4801, 4803, 4805, 4806, 4809, 4810 Lorelly Avenue, Baltimore MD 21206
Sinclair – 5501, 5503, 5505, 5507, 5509, 5511, 5513, 5515, 5517 Bowleys Lane, Baltimore MD 21206
Bowie Commons – 3909 A1- A12, B1- B12, C11-C-12 New Haven Court, Bowie MD 20716 | Lorelly Sinclair Housing Partners, LP | $32,000,000 |
| Silver Hill 4 | 150 | 4315 & 4319 Silver Hill Road, Suitland MD 20746 Prince George’s County | Silver Hill 4, LLC | $40,000,000 |
| Rye House Apartments | 254 | 2450 Rye Street, Baltimore MD 21230 Baltimore City | PC-E6 LLC | $97,000,000 |
| Springvale Terrace | 236 | 8505 Springvale Road, Silver Spring MD 20910 Montgomery County | New Springvale LP | $65,000,000 |
All interested parties are invited to submit written comments in advance or present oral comments by teleconference at the public hearing regarding the issuance of bonds, notes, or other obligations of the Administration and/or the State for the Projects being financed. Written comments or notice of intent to present oral comments should be received by the Administration on or before November 29th, 2024 and should be submitted to Benedict Durant, Housing Development Programs, 7800 Harkins Road, Lanham, Maryland 20706 or [email protected]. Oral comments will be limited to presentations of no more than five (5) minutes per person.