• NOTICE OF PUBLIC MEETING AND P...

NOTICE OF PUBLIC MEETING AND
PUBLIC HEARING

The Philadelphia Authority for Industrial Development (the "Authority") will hold a public hearing on October 23, 2017 at 10:00 a.m., at the offices of Philadelphia Industrial Development Corporation located at 1500 Market Street, 2600 Centre Square West Tower, Philadelphia, PA 19102, to discuss the issuance of up to $11,000,000 tax-exempt revenue bonds, in one or more series (the "Bonds"). The proceeds from the sale of the Bonds will be loaned to Southwest Leadership Academy, a Pennsylvania nonprofit corporation and an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, and used to finance the costs of the following project (the "Project").
A. Initial Occupant: Southwest Leadership Academy
B. Maximum Principal Amount of Bonds:
$11,000,000
C. Description of the Project: Acquisition of an approximately 5.915 acre (257,638 SF) site of land consisting of 1 city block located at 1300 South 58th Street, Philadelphia, Pennsylvania 19143 (the "Site"), demolition of existing structures on the Site and remediation of the Site; and (ii) reimbursement of certain expenditures incurred by the Borrower related to such acquisition and the financing thereof and the project referred to below. (While this will not be financed with proceeds of the Bonds, except for reimbursement as referenced above, the Initial Occupant intends in the future to construct an approximately 78,492 square foot charter school, and 200 meter track on such land (and related capital improvements) able to accommodate 1,100 students in grades Kindergarten through 8th grade.)
D. Project Location: 1300 South 58th Street
Philadelphia, Pennsylvania 19143
At the public hearing, any and all persons in attendance will be afforded an opportunity to comment on the Project and the issuance by the Authority of its Bonds. Written comments may also be submitted to the Authority at the address of the hearing listed above by 10:00 A.M. on October 23, 2017.
This notice is published in accordance with and the public hearing is held by and on behalf of the Authority as the Issuer of the Bonds as required by the Internal Revenue Code of 1986, as amended, and treasury regulations promulgated thereunder.

Philadelphia Authority for
Industrial Development

Dated: October 9, 2017



Ref# 0003334020-01
PostedOctober 08, 2017