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~ NOTICE OF PUBLIC HEARING ON PROPOSAL FOR A HOUSING PROGRAM AND THE ISSUANCE OF REVENUE BONOS TO FINANCE A MULTIFAMILY ELDERLY RENTAL HOUSING DEVELOPMENT (COLLEGE PROPERTIES, INC. PROJECT) TO WHOM IT MAY CONCERN: Notice is hereby given that the City ,Council of the City of Roseville, Minnesota, will meet in the City Council Chambers at the City Hall in the City of Roseville, Minnesota, at 7:30 p,m, on Monday, September 13, 1993, to consider the proposal of College Properties, IIIC" a Min- nesota non-profit corporation (the "Q.pmpany") that,the City undertake a housing,pfogram to finance Ihe Project hereinafter described, pur- suant to the housing plan and ~innesota Statutes, Chapter 462C, by the iss\Jance of revenue obligations, Description of the ProJect~ The Project consists of the acq4isi\ion, con- struction and eqUipping of a 127 unil)ndepen- dent living multifamily rental housing develop- ment for the elderly, along with related im- provements. to be located at 2925 Lincoln Drive N, in the City of Roseville and a 91 unit assisted living multifamily rental housing development for the elderly, along with related im- , provements, 10 be located at 2945 Uncoln Drive N, in the City of Roseville. Minnesota, The Pro. ject will be owned by the Company and operated by Presbyterian Homes Management and Services, Inc" a Minnesota non-profit corporation, Subsequent to approval of the housing pro. gram, the City of Roseville may issue revenue bonds to finance the housinq program, Said bonds or other obligations, as and when issued, will not constitute a charge, lien or encum- brance upon any property of the City of Roseville, except the Project and the revenues to be derived from the Project. Such bonds or obligations will not be a charge against the' Ci- ty's general credit or taxing powers but are payable from sums to be paid by the Company pursuant to a revenue agreement. The maximum aggregate estimated principal amount of bonds or other obligations to be issued to finance the Project pursuant to the housing program is $23,000;000, Further information concerning the housing program and the Project may be obtained from the office of the City Manager during normal business hours, At the time and place fixed for the public hearing, the City Council will give all persons who appear at the hearing an opportunity to ex- press their views with respect 10 the housing plan and the financing of the Project pursuant to the housing program, Written comments will be considered if submitted at the above City of- fice on or before the date of the hearing, BY ORDER OF THE CITY COUNCIL OF THE CITY OF ROSEVILLE, MINNESOTA By Isl Steve Sarkozy City Manager (Roseville Review: Aug, 24, 1993) '\..