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March 3, 2020
2 minute read

Notice of Public Hearing (TEFRA)


Notice of Public Meeting

The New Jersey Economic Development Authority's next public Board Meeting will be held on Tuesday, March 10, 2020 at 10 a.m. at the EDA offices at 36 West State Street, Trenton. A copy of the proposed agenda can be found prior to the meeting at www.njeda.com/Board. Following the Board Meeting, minutes and the full agenda will also be available at www.njeda.com/Board.
 
NJEDA offers the public the opportunity to offer public comments during the Open portion of its Board Meetings. Pursuant to provisions of the Open Public Meetings Act, N.J.S.A. 10:4-12, NJEDA is entitled to permit, regulate or prohibit public participation in its meetings.  Members of the public who are interested in offering comment should review the NJEDA’s policy on public comment, which is established to maintain order and prevent disruption of the meeting. The NJEDA’s policy on public comment can be found at www.njeda.com/publiccomment.

Notice of Public Hearing (TEFRA)

The New Jersey Economic Development Authority (the “Authority”) will hold a public hearing in accordance with the public notice requirements of Section 147(f) of the Internal Revenue Code of 1986, as amended, on March 10, 2020 at 10:00 a.m., at the offices of the Authority, located at 36 West State Street, Trenton, New Jersey 08625, with respect to the following application for private activity bond financing:

Application Number: PROD #00187739

Name and Address of Applicant, Operator and Manager of Project: 

Yeshivat Yagdil Torah Inc
100 James Street, 
Lakewood, New Jersey 08701

Additional Operator/Tenant: Yeshivas Ahavas Torah Inc

Project Location: 

100 James Street, 
Lot 10 in Block 345,
Lakewood, New Jersey 08701

Maximum Amount of Issue Requested: Not exceeding $5,000,000

Description of Project:
 

Bonds are to be issued to (i) refinance existing debt of the Applicant that was used for the purchase and rehabilitation of the buildings at the Project Location for use as a school; and (ii) fund the construction of additional facilities, including a study hall, expanded gym area and dining area, all purpose room and classrooms. Proceeds of the bonds will also pay certain costs of issuing the bonds and fund various funds and accounts. 
 
At the meeting, members of the public may appear in person or by attorney to express their views, which may either be provided orally or may be submitted in writing at the Authority's address above, concerning the proposed issuance of bonds and the location and nature of the Project to be financed thereby.

PRIVATE ACTIVITY BOND FINANCINGS OF THE NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY ARE NOT OBLIGATIONS OF THE STATE OF NEW JERSEY, NOR ANY COUNTY OR MUNICIPALITY THEREOF. FUNDING FOR SUCH FINANCINGS ARE SECURED PRIVATELY THROUGH CONVENTIONAL LENDING SOURCES.

 

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