Massachusetts Development Finance Agency

Notice is hereby given that a telephonic public hearing will be conducted by the Massachusetts Development Finance Agency (“MassDevelopment”) at 9:00 a.m. on August 12, 2025, with respect to the proposed issuance by MassDevelopment, acting under and pursuant to Massachusetts General Laws, Chapters 23G and 40D, as amended, of draw down bonds in the maximum aggregate principal amount of $23,450,000 (the “Bonds”).  The total estimated costs of the below defined Project are $47,837,835.

Pursuant to IRS Revenue Procedure 2022-20, providing guidance for the holding of teleconference public hearings in conformance with the requirements of Section 147(f) of the Internal Revenue Code of 1986, as amended (the “Code”), the public hearing will be held via the following telephonic conference line‎:

• Dial In: 888-305-1655
• Participant Code: 309-639

The Bonds will be issued to provide for the financing and/or refinancing of, and the reimbursement of funds advanced by TND 110 Ocean LLC, a Massachusetts limited liability company (the “Borrower,” which term includes for purposes of this Notice any parent, subsidiary or other affiliate thereof), with respect to certain property owned or to be owned and operated by the Borrower (including without limitation such financing, refinancing or reimbursement of bond reserves, capitalized interest, issuance costs and associated working capital expenditures), generally consisting of the financing of, and the refinancing of affordable residential rental housing facilities, including the acquisition of land and the construction, furnishing and equipping on such land of an approximately 70,315 square foot building containing (i) 56 units of affordable housing, which includes 8 group living beds, 12 one bedroom apartment units and 36 two and three bedroom apartment units, (ii) approximately 5,000 square feet of office space to be leased to a 501(c)(3) entity, (iii) and covered parking at 110 Ocean Avenue in Revere, Massachusetts 02151 (the “Project”). The Project is expected to be known as 110 Ocean Avenue.  At least forty percent (40%) of the apartment units at the Project are expected to be occupied by tenants with income not exceeding sixty percent (60%) of area median income.

The Bonds, which will constitute exempt facility bonds for a qualified residential project within the meaning of Sections 142(a)(7) and 142(d)(1) of the Code (namely, the Project), will not constitute a general obligation of, or a pledge of the faith and credit of the Issuer or a general obligation of, or a debt or pledge of the faith and credit of the Commonwealth.

Interested persons wishing to express their views on such Project and the proposed issuance of revenue bonds to finance and refinance the costs of such Project will be given the opportunity to do so at the public hearing or may, prior to the time of the public hearing, submit their views in writing to Massachusetts Development Finance Agency, 99 High Street, 11th Floor, Boston, Massachusetts 02110. Persons desiring to participate at the telephonic public hearing must make a written request at least 24 hours prior to the hearing by email to tefrahearinginfo@MassDevelopment.com or by mail to MassDevelopment, 99 High Street, Boston, MA 02110, Attn:  TEFRA Hearings.