Health education housing facilities board of the city of Chattanooga to order.

You have an agenda before you and uh first thing we want to do is meeting was advertised.

We do have a quorum.

Yes, sir.

We do.

Uh second thing is the approved amendments of the May 18th meeting.

You have received those and have them in front of you.

And a motion for discussion.

Anybody feel it among themselves to make a motion?

Motion to approve.

Okay.

I can't do this alone, guys.

Okay, we have a motion and second.

Any comments, additions, changes to them.

Okay, seeing none.

All in favor approving the May 18th minutes, please say aye.

Opposed, like, signed.

Motion approved.

Um we always invite any persons in the um audience to uh an opportunity to address the board.

Um you have three minutes to address the board, but this is the only time you can do that.

So if anybody has any what I'd like to say, we're welcome to listen and take it into account.

Otherwise, the rest of the meeting will be votes by the board.

Anyone wishing to address us?

Okay.

Uh we have three TEFRA hearings.

It's my understanding that uh item number seven has been withdrawn.

So we have a TEFRA.

Your item five, six eight for TEFRA hearings.

So we should have a presentation uh on those, and these are for information purposes and will not be uh a vote taken, but for you all's purpose understanding what it is to come back.

So the first one is um on Stanley for GAAP, a resolution authorized and subject to certain conditions, the issuance of not to exceed 50 million multifamily housing revenue bonds in one or more series regarding Stanford Graph P1 LP applicant for the purpose of financing the acquisition, construction, and equipping equipping of certain multifamily housing facilities and authorizing exception, the execution and delivery on agreement in connection with the issuance of such bonds.

I see them standing over there.

You want to come up and introduce yourselves and um talk about this?

Sure.

Let me ask you one question.

They have the second one.

Yeah, uh you might give us some information about P1 and P2 on here that are involved.

Yeah, they both have the same address here.

One of them looks like it's a 259 unit multifamily housing facility, and the other one is 223, but both of them have the same address at 7610 standard for gap.

So if you'll just cover both of those, that'd be great.

Gotcha.

Thank you so much for your time.

My name is Joshua Haston.

I'm with LDG Development.

We are a national developer headquartered in Louisville, Kentucky, but I run our Tennessee office.

I'm based in Nashville, but uh my mom lives in Saudi Daisy, so I'm pretty familiar with Chattanooga area.

Um this particular project is a multi-phase project.

So what we're talking about here is uh the beginning phases of what we hope will be a um mixed income development and a very high opportunity community.

So uh this particular project, we're hoping to use what is called the 4% ITEC program, and that program uh helps to preserve affordability and attainability for folks for a long period of time.

Uh in this particular project, we're partnering with the housing authority uh to make sure that we're uh again being uh broad based and and how we're serving and working with the community.

Um we're coming to you guys early for this TEFRA and bond inducement hearing as we work through the beginnings of the financing.

Uh we're working again with the housing authority with HUD and with THDA and how we set this project up.

Uh we're working to serve largely families in this community, uh, where it's it's a mix of ones, twos, threes, and fours across both phases.

And uh with that, it's serving a broad base of incomes.

We know that uh housing costs across the country, but also in Chattanooga have seen uh dramatic increase.

And with the programs that we're using to finance this development, it's hoping to ensure that long-term affordability so folks can stay and prosper in the communities and raise up the socioeconomic ladder because we know that takes a lot uh these days.

So we're we're again hopeful to build this community uh and maintain long-term affordability in in the Hamilton Place small area.

So happy to take any questions you guys have.

So you got 200 259 units in this one.

And their mixed income, and you talked about explain to me a little bit about what you said that will help protect the pricing or the affordability for people.

Great question.