NOTICE OF PUBLIC HEARING

On December 1, 2022, at 1:30 p.m., in Room 736B of the offices of the Chicago Housing Authority (the “Authority”) at 60 E. Van Buren Street in Chicago, Illinois, a public hearing will be held before a designated hearing officer of the Authority regarding the issuance by the Authority of its not to exceed an aggregate principal amount of $100,000,000 Multifamily Housing Revenue Notes, in one or more series or subseries (the “Notes”).  Proceeds of the Notes will be loaned to (i) Albany Housing Development LLC, an Illinois limited liability company (“Albany”), whose managing member is Albany Senior Housing DE LLC, a Delaware limited liability company, whose sole member is Chicago Housing Administration LLC, an Illinois limited liability company, whose sole member is the Authority, and (ii) Gaines Housing Development LLC, an Illinois limited liability company (“Gaines” and together with Albany, the “Owners”), whose managing member is Gaines Senior Housing LLC, an Illinois limited liability company, whose sole member is Chicago Housing Administration LLC, an Illinois limited liability company, whose sole member is the Authority.  Such loans will be used to finance or reimburse the Owners, the Authority and/or Chicago Housing Administration LLC for costs of the acquisition, rehabilitation and renovation of (i) the Albany Terrace Project consisting of 350 rental units of multifamily housing located at 3030 W. 21st Pl. Chicago, Illinois (Note par amount not to exceed $68,500,000), and (ii) the Irene McCoy Gaines Project consisting of 150 units of multifamily housing located at 3700 W. Congress Pkwy., Chicago, Illinois (Note par amount not to exceed $31,500,000) (together, the “Projects”).  Proceeds of the Notes may also be used to pay costs of issuance of and capitalized interest on the Notes.

The Notes will not constitute a debt of the Authority, the City of Chicago or of the State of Illinois within the meaning of any provisions of the Constitution or statutes of the State of Illinois or a pledge of the faith and credit of the Authority, the City of Chicago or of the State of Illinois or grant to the owners thereof any right to have the City of Chicago or the State of Illinois, or any political subdivision thereof, levy any taxes or appropriate any funds for the payment of the principal or interest thereon.  The Notes will be payable solely out of the revenues and other funds pledged for their payment in accordance with the agreements under which the Notes are to be issued.

The above notice of public hearing is required by Section 147(f) of the Internal Revenue Code of 1986, as amended.  At the time and place set for the public hearing, residents, taxpayers and other interested persons will be given the opportunity to express their views for or against the Projects and the Notes.  Written comments may also be submitted to the Chief Executive Officer of the Authority at 60 E. Van Buren Street, Chicago, Illinois 60605, until November 30, 2022.

Dated: November 22, 2022

CHICAGO HOUSING AUTHORITY