NOTICE OF PUBLIC HEARING (Tax Equity and Fiscal Responsibility Act)
The Kansas City Area Transportation Authority (the “Authority”), a quasi-federal, bi-state Compact political subdivision existing by the authority of Congress as of September 21, 1966, pursuant to 80 Stat. 826, P.L. 89-599 (the “Compact”), will conduct a public hearing at 12:00 p.m. on Wednesday, July 30, 2025, at the offices of the Authority, 1200 E. 18th Street Kansas City, Missouri 64108, Breen Conference Room, to consider the issuance by the Authority of one or more series of taxable and tax-exempt negotiable multi-family housing financing instruments in the maximum principal amount of not to exceed $52,500,000 (collectively, the “Series 2025 Instruments”). The proceeds of the Series 2025 Instruments will be loaned to Redbud Reserve, LLC, a Kansas limited liability company (the “Borrower”) duly organized and existing under the laws of the State of Kansas (the “State”), to finance and reimburse the costs for Borrower, as the limited scope agent of the Authority, to acquire, construct, and equip a 192-unit affordable multi-family housing facility located at 6909 State Avenue, Kansas City, Kansas, commonly known as “Redbud Reserve” (the “Facility”), to provide monies for funding reserves for the Facility, if applicable, and to pay certain costs of issuance of the Series 2025 Instruments. The Facility is served by and will create substantial housing density on the Authority’s passenger transportation system and promote the federal transit policy goals (under, among others, 49 U.S.C. § 5302) to create density near transit and improve the resilience and reliability of federally funded transportation systems. The Authority has jurisdiction to develop facilities for its passenger transportation system in the Counties of Leavenworth, Johson and Wyandotte in Kansas, and in the Counties of Cass, Clay, Platte, Jackson in Missouri (the “Compact District”). The Compact District was approved by the Compact and established, respectively, by Section 12-2524, et seq., of the Kansas Statutes Annotated and Section 238.010 et seq., of the Revised Missouri Statutes. The Facility is located in the Compact District. The Series 2025 Instruments issued and executed by the Authority will not constitute an indebtedness or obligation of the Authority, Kansas City, Kansas (the “City”), Wyandotte County the “County”) the State, or any political subdivision thereof within the meaning of any constitutional or statutory debt limitation, nor will the Authority, the City, the County, the State or any political subdivision thereof be liable thereon. The Series 2025 Instruments will be special, limited obligations of the Authority, payable solely from and secured by revenues and payments received from the operation of the Facility. This notice of public hearing is intended to comply with the public approval requirements of Section 147(f) of the Internal Revenue Code of 1986, as amended, and other applicable laws. The hearing will be open to the public and will provide a reasonable opportunity for interested persons to express their views, orally and in writing, concerning the proposed issuance of the Series 2025 Instruments. Written comments with respect to the Facility may also be submitted to the undersigned prior to the hearing.
Dated: July 22, 2025
Frank White III President and CEO
Kansas City Area Transportation Authority
1200 E. 18th Street Kansas City, Missouri 64108
(816) 346-0200