October 26, 2023
NOTICE OF TELEPHONIC PUBLIC HEARING

Notice is hereby given by the Housing Authority of the City of Charleston (the “Housing Authority”) to all interested persons that a public hearing will be held regarding the proposed issuance by the Housing Authority of its Multifamily Housing Revenue Notes or Bonds (Esau Jenkins Village) (the “Bonds”), in the maximum principal amount of $12,000,000.  The Bonds are intended to be issued as qualified exempt facility bonds for qualified residential rental projects under Section 142(a)(7) of the Internal Revenue Code.

The Housing Authority will lend the proceeds of the Bonds in the amount of not to exceed $12,000,000 to Sea Island, LP, a South Carolina limited partnership (the “Housing Sponsor”), to provide financing for the costs of acquisition and construction of multifamily housing to be known as Esau Jenkins Village, to be located at 3627 Maybank Highway, on Johns Island in the City of Charleston, South Carolina, expected to consist of approximately 72 units located within three buildings (the “Project”).  The Project will be owned by the Housing Sponsor.

The Bonds will be payable by the Housing Authority solely and exclusively out of payments to be made by the Housing Sponsor with respect to the Project.  The Bonds will not constitute a debt or grant or loan of the credit of the City of Charleston (the “City”), the Housing Authority, the State of South Carolina (the “State”), or any other political subdivision of the State within the meaning of any State constitutional provision or statutory limitation or other applicable authority, nor give rise to a pecuniary liability of the City, the Housing Authority, or the State. The Bonds will not constitute a charge against the general credit of the City, the Housing Authority, or the State or the taxing powers of the City or the State.  Neither the State nor the City shall be liable on the Bonds.

The Public Hearing will be conducted telephonically on Monday, October 30, 2023, at 10:00 a.m., and the public will not be able to attend in person. However, all persons who wish to listen to the public hearing may join by calling toll-free at 866.365.4406 and using access code 2663802#. All persons who intend to express their views for or against the proposed issuance of Bonds, the nature of the financing, the Project, or the approval of the issuance of the Bonds must contact the Housing Authority not less than 24 hours prior to the public hearing, via email to aferguson@chacity.org to inform the Housing Authority of your intent to do so. Those who participate in the public hearing will be permitted to address the Housing Authority regarding the Project, the financing, or the Bonds for a period of up to five (5) minutes. Members of the public may also submit written statements in advance of the public hearing to the office of General Counsel, Housing Authority of the City of Charleston, 550 Meeting Street, Charleston, South Carolina 29403, or aferguson@chacity.org.  The Housing Authority will not prepare a transcript of the public hearing.