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<br />NOTICE OF PUBLIC BEARING <br /> <br />PROPOSAL OF <br />PARAGON GROUP, INC. <br />FOR ISSUANCE OF ESTIMATED $25,000,000 <br />OF REVENUE BONDS FOR MULTIFAMILY <br />RENTAL HOUSING <br /> <br />NOTICE IS HEREBY GIVEN of the making to the City of Redwood <br />City of the following proposal for issuance of revenue bonds for <br />multifamily rental housing: <br /> <br />Proposer: <br /> <br />Paragon Group, Inc., or designee (the "Company"). <br /> <br />Estimated aggregate principal amount of bonds: $25,000,000. <br /> <br />Functional description of facilities to be acquired with bond <br />proceeds (the "Facilities"): <br /> <br />Approximately 304 multifamily rental housing units <br />comprising 1 and 2 bedroom units together with related and <br />necessary recreational, laundry, parking and landscaping <br />improvements. <br /> <br />Location of FacIlities: <br /> <br />comprlslng approximately 15.47 acres on <br />the northeast corner of Redwood Shores <br />Parkway and Shell Parkway in Redwood City, <br />California. (Assessor's Parcel No(s). <br /> <br />Initial owner of Facilities: <br /> <br />Initial operator or manager <br />of Facilities: <br /> <br />The proposal is that the City undertake a project (the <br />"Project") for the construction or development of the Facilities by <br />the issuance of revenue bonds in the above-stated estimated maximum <br />principal amount (the "Bonds") pursuant to Division 31, Part 5, <br />Chapter 4 (commencing with Section 52030) and Chapter 7 (commencing <br />with Section 52075) of the California Health and Safety Code. <br /> <br />NOTICE IS FURTHER GIVEN that the City Council of the City of <br />Redwood City will hold a public hearing on , , <br />198 , at the hour of .m., in the Council Chambers, <br />-_-=____________, RedWOOd City, California 94063, on the question- <br />of approval, conditional approval or disapproval of the undertaking <br />by the City of the Project, at which time and place all persons <br />interested, including all residents of the City, will be given a <br /> <br />MFH0007.RWC/I <br /> <br />EXHIBIT "An <br /> <br />12/06/84 <br />