General Information

Government Type

County

Entity

Salt Lake County

Public Body

Council Public Hearings

Notice Information

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Notice Title

Notice of Hearing

Notice Type(s)

Notice, Hearing

Event Start Date & Time

July 1, 2025 01:30 PM

Description/Agenda

EXHIBIT B NOTICE OF PUBLIC HEARING NOTICE IS HEREBY GIVEN that a public hearing will be held by Salt Lake County, Utah (the 'County'), on Tuesday, July 1, 2025, at 1:30 p.m., or as soon thereafter as the matter can be heard, both by electronic means and in person, in the Salt Lake County Government Center, #N2-800, County Council Chambers, 2001 South State Street, Salt Lake City, Utah 84111, regarding the proposed issuance by the Public Finance Authority (the 'Issuer'), a commission organized under and pursuant to the provisions of Sections 66.0301, 66.0303 and 66.0304 of the Wisconsin Statutes, as amended, of its revenue bonds or other obligations in one or more series from time to time pursuant to a plan of financing (the 'Bonds'), in an amount not to exceed $75,000,000. The public hearing is required by Section 147(f) of the Internal Revenue Code of 1986, as amended (the 'Code'). The following information has been provided by the Borrowers (as defined below) for this Notice: The Bonds are expected to be delivered pursuant to Section 66.0304 of the Wisconsin Statutes, as amended. The proceeds from the delivery of the Bonds will be loaned for the benefit of The Give Initiative, Inc., a Utah nonprofit organization, or an affiliate thereof who is the sole member of the Borrowers listed below (the 'Sole Member') and used to (a) finance the acquisition, rehabilitation and equipping of three multifamily rental housing developments further described below, (b) fund certain reserves as may be required, (c) finance capitalized interest on the Bonds, if any, and (d) finance costs of issuance of the Bonds (collectively, the 'Project'). On the date of delivery of the Bonds, the Facilities will be initially owned and operated by the Borrowers listed below. The Bonds will be delivered as 'qualified 501(c)(3) bonds' under Section 145 of the Code. A portion of the proceeds of the Bonds will be used for the following projects: 1. A multifamily rental housing development to be known as Airport (the 'AirportProject'), a 105-unit rental housing project located at 1990 W North Temple, Salt LakeCity, Utah consisting of 26,816 square feet on 1.76 acres. The initial owner andoperator of the Airport Project will be Ville 1990, LLC, a Utah limited liabilitycompany. 2. A multifamily rental housing development to be known as Midvale (the 'MidvaleProject'), a 127-unit rental housing project located at 7263 Catalpa Street, Midvale,Utah consisting of 37,074 square feet on 4.26 acres. The initial owner and operator ofthe Midvale Project will be Ville 72, LLC, a Utah limited liability company. 3. A multifamily rental housing development to be known as Murray (the 'MurrayProject' and together with the Ville 9 Project, the Airport Project and the MidvaleProject, the 'Project'), a 132-unit rental housing project located at 975 E 6600 South,Salt Lake City, Utah consisting of 48,189 square feet on 3.21 acres. The initial ownerand operator of the Murray Project will be Ville 66, LLC, a Utah limited liabilitycompany. B-2 4898-1926-4048, v. 4 The Bonds will be issued in an aggregate principal amount not to exceed $75,000,000 (the 'Bonds') pursuant to a trust indenture (the 'Indenture'). The Bonds will be issued as securities the interest on which is excludable from the gross income of the holder thereof for federal income tax purposes. The Bonds will be special limited obligations of the Issuer payable solely from the loan repayments to be made by the Borrowers to the Issuer, and certain funds and accounts established by the trust indenture for the Bonds. The Bonds will not be an obligation in any way of the State of Utah ('Utah') or the County, within the meaning of any Utah Constitutional provision or statutory limitation. Bond proceeds not exceeding $75,000,000 may be used with respect to any component of the Project identified herein; however, the aggregate amount of Bond proceeds to be used for the Project will not be greater than $75,000,000. At the time and place set for the public hearing, interested persons will be given a reasonable opportunity to express their views, both in person in Room N2-800 of the Salt Lake County Government Center or online through Webex, on the merits of the Project, its location, the plan of financing, the delivery of the Bonds or related matters. For more information, including registration and Webex connection information, please visit https://saltlakecounty.portal.civicclerk.com/. People with disabilities may make requests for reasonable accommodation, which may include alternate formats, interpreters, and other auxiliary aids and services. Please make requests at least two business days in advance. To make a request, please contact the County Council Office at 385-468-7500, or relay service 711. Date of Notice: June 18, 2025

Notice of Special Accommodations (ADA)

Reasonable accommodations (including auxiliary communicative aids and services) for individuals with disabilities may be provided upon receipt of a request with three working days' notice. For assistance, please call (385) 468-7500.

Notice of Electronic or Telephone Participation

Members of the Council may participate electronically

Meeting Information

Meeting Location

2001 South State Street
Suite N2-800
Salt Lake City, UT 84111
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Contact Name

Catalina Davison

Contact Email

cdavison@slco.org

Contact Phone

(385)468-7500

Notice Posting Details

Notice Posted On

June 18, 2025 02:32 PM

Notice Last Edited On

June 18, 2025 02:32 PM

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