Res 1987-142 - Laserfiche WebLink

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CAPITAL AREA HOUSING FINANCE CORPORATION Notice of Public Hearing The Capital Area Housing Finance Corporation will hold a public hearing to consider issuing tax-exempt bonds to provide mortgage loans for qualified homebuyers in the Central Texas region. The hearing will begin at 1:30 p.m. on Monday, November 2, 1987, at the offices of the Capital Area Planning Council, 2520 IH-35, South, Suite 100, Austin, Texas. The proposed bond issue will not exceed $21,000,000 and the bond proceeds will be used to establish a program to provide mortgage loans to persons of low and moderate income (as established by federal and state guidelines) who are first-time homebuyers and who wish to purchase owner- occupied, single-family homes located in Bastrop, Blanco, Caldwell, Fayette, Hays, Llano, and Williamson Counties and in the City of San Marcos, Texas. The purchase price of a home financed with bond proceeds may not exceed $90,360 for a new home or $74,790 for a used home. However, up to $650,000 of bond proceeds will be allocated to a target area within Williamson County in which the first-time homebuyer requirement is waived and the purchase price limitations are increased to $110,440 for a new home and to $91,410 for a used home. Income eligibility limits are also increased for target area loans. Both the purchase price and income limits are subject to revision by the federal government during pendency of the program. All interested persons are invited to attend the public hearing and express their views on the proposed bond issue. Please direct questions or requests for additional informa- tion to Susan G. Conway, Esq., Vinson & Elkins, First City Centre, 816 Congress, Austin, TX 78701-2496, telephone (512) 495-8442. Those planning to attend the hearing and express their views are encouraged to contact Ms. Conway in advance of the hearing. Those unable to attend but wishing to express their views may do so by writing Ms. Conway in advance of the hearing. The Capital Area Housing Finance Corporation will reschedule the hearing date, time, or location, or schedule an additional hearing, if a significant number of interested persons so request by writing Ms. Conway in advance of the November 2 hearing date. This notice is published and the hearing wi 11 be held in order to comply with section 147(f) of the Internal Revenue Code of 1986, as amended.