BCIA Public Notices

Category
Description
Date
TEFRA Hearing Notice - Greater Bergen CAP Notes, Series 2025

NOTICE OF PUBLIC HEARING

            Notice is hereby given that a telephonic public hearing will be held by the Bergen County Improvement Authority (the “Authority”) on May 13, 2025, commencing at 11:00 a.m., for the purpose of providing a reasonable opportunity for interested persons to express their views both orally and in writing on the proposed issuance by the Authority of County Guaranteed Revenue Notes, Series 2025 (Greater Bergen Community Action, Inc. Project) (the “Notes”) in an aggregate principal amount not to exceed $15,500,000.

            The proceeds of the Notes will be loaned to Greater Bergen Community Action, Inc. (the “Borrower”), a New Jersey not-for-profit corporation, and will be used, together with other available monies, to finance the project (the “Project”) consisting of: (a)(i) the acquisition of 505 Main Street, Hackensack, New Jersey 07601 (Block 412, Lot 16) and various improvements thereto, and (ii) the acquisition of 106 Somerset Street, Garfield, New Jersey (if the Borrower elects to do so); and (b) payment of certain costs incidental to the issuance and sale of the Notes.

            The Project will be owned and operated by the Borrower and will be located at 505 Main Street, Hackensack, New Jersey and 106 Somerset Street, Garfield, New Jersey.

            The public hearing will be conducted in a manner that provides a reasonable opportunity for persons with differing views on the issuance of the Notes and the financing of the Project to be heard and to present their oral and written comments.  At the time set for the public hearing, pursuant to Internal Revenue Service Revenue Procedure 2022-20, interested persons will be given a reasonable opportunity to express their views, both orally (via telephonic participation) and in writing, on the merits and location of the Project, the plan of financing, the issuance of the Notes, or related matters.  Members of the public may listen to and contribute to any discussion during the hearing by: (1) dialing toll free (888) 475-4499 and (2) entering conference code 8756030834# at the prompt.  Persons wishing to participate should submit a written request to speak at the hearing to John D. Draikiwicz, Esq., electronically by email at jdraikiwicz@gibbonslaw.com, at least 24 hours before the hearing.  In addition, the hearing officer will also provide time for additional comments at the end of the hearing.  Oral remarks may not exceed five minutes in duration.  Written comments should be delivered to John D. Draikiwicz, Esq. electronically by email at jdraikiwicz@gibbonslaw.com for receipt not later than the date and time of the hearing.

            This notice is published in accordance with the public notice requirements of Section 147(f) of the Internal Revenue Code of 1986, as amended and regulations promulgated thereunder.

Tuesday, May 13, 2025