NOTICE IS HEREBY GIVEN that a public hearing (“Public Hearing”), as required by Section 147(f) of the Internal Revenue Code of 1986, as amended (the “Code”), will be held by the South Carolina State Housing Finance and Development Authority (“SC Housing”) on behalf of the State of South Carolina (the “State”) regarding the above-referenced note issuance by the Housing Authority of the City of Spartanburg, South Carolina (the “Issuer”) on August 27, 2026, at 9:30 a.m., or as soon thereafter as the matter can be heard, and will be held telephonically by SC Housing. 

The Issuer, a city housing authority organized under and pursuant to the provisions of Title 31 Chapter 3 Article 5 of the Code of Laws of the State of South Carolina, as amended, previously issued its Multifamily Housing Revenue Note (Shockley Terrace Apartments Project) Series 2022 in an aggregate principal amount of not to exceed $35,000,000 (the “Note”) pursuant to the Funding Loan Agreement dated as of January 1, 2022 (“Funding Loan Agreement”), among the Issuer, Citibank, N.A., as funding lender and U.S. Bank Trust Company, National Association (as successor to U.S. Bank National Association), as fiscal agent. Pursuant to the Borrower Loan Agreement dated as of January 1, 2022 (“Borrower Loan Agreement”), between the Issuer and Shockley Terrace, LP, a South Carolina limited partnership, as borrower (the “Borrower”), the Issuer loaned the proceeds of the Note to Borrower to (i) provide funds to finance the costs of acquiring, constructing and equipping an approximately 258-unit multifamily housing development and related real estate located in the City of Anderson, Anderson County, South Carolina to be known as Shockley Terrace Apartments (“Project”), and (ii) pay the costs of issuance of the Note.

The Project is located at 119 Moore Street, Anderson, South Carolina 29626. The Project is owned and operated by the Borrower.

The Issuer and the Borrower desire to undertake certain modifications and amendments to the plan of finance, including extending the Outside Conversion Date and increasing the Permanent Period Amount (as such terms are defined in the Borrower Loan Agreement) which will result in a reissuance of all or a portion of the Note. 

The Note is a special, limited obligation of the Issuer and is payable solely and exclusively out of and secured by loan repayments to be made by the Borrower to the Issuer under the Borrower Loan Agreement and certain other funds and accounts established and pledged for the Note under the Funding Loan Agreement. The Note will not constitute an indebtedness of the Issuer, SC Housing, the State or any political subdivision thereof within the meaning of any State constitutional provision or statutory limitation (other than indebtedness payable only from a revenue-producing project or special source) nor give rise to a pecuniary liability of the Issuer, SC Housing, the State, or any political subdivision thereof.  The Note will not constitute a charge against the general credit or any taxing powers of the Issuer, SC Housing, the State, or any political subdivision thereof. The Issuer and SC Housing have no taxing authority

The Public Hearing will be conducted telephonically and the public will not be able to attend in person. However, all persons who wish to listen to the public hearing may join by calling toll free at 1-646-828-7666 and using meeting ID 1651119151. All persons who intend to express their views for or against the proposed reissuance of the Note, the location and nature of the Project, or the approval of the reissuance of the Note must contact SC Housing, not less than 24 hours prior to the Public Hearing, via email to leeann.watson@schousing.com to inform SC Housing of their intent to do so. Those who participate in the Public Hearing will be permitted to address SC Housing regarding the Project or the Note for a period of up to three (3) minutes. Members of the public may also submit written statements in advance of the Public Hearing to Lee Ann Watson, General Counsel, South Carolina State Housing Finance and Development Authority, 300-C Outlet Pointe Boulevard, Columbia, South Carolina 29210 or leeann.watson@schousing.com.