Notice of Public Hearing (TEFRA)

NOTICE OF PUBLIC HEARING (TEFRA) ( Posted October 2, 2025 at 10:00 am)

NOTICE OF PUBLIC HEARING
WITH RESPECT TO THE ISSUANCE BY THE
New Jersey Economic Development Authority
OF REVENUE BONDS IN AN AMOUNT NOT TO EXCEED $6,000,000

NOTICE IS HEREBY GIVEN to all interested persons that a public hearing, as required by Section 147(f) of the Internal Revenue Code of 1986, as amended (the “Code”), will be held by the New Jersey Economic Development Authority (“Authority”) at its regular monthly meeting on Thursday, October 9, 2025, which commences at 10:00 a.m., at the offices of the Authority in the main boardroom on the First Floor at 36 W. State Street, Trenton, New Jersey 08608, with respect to the proposed issuance by the Authority of revenue bonds, in one or more series, in an aggregate principal amount not to exceed $6,000,000 (the “Bonds”).  The Bonds will constitute “qualified 501(c)(3) bonds” within the meaning of Section 145(a) of the Code and will be issued pursuant to a plan of finance as described below.

The proceeds from the sale of the Bonds will be loaned to Second Street Youth Center, Inc., a New Jersey nonprofit corporation and organization described in 501(c)(3) of the Code (the “Borrower”).  Proceeds of the Bonds will be used to (1) finance and refinance the acquisition by the Borrower of (a) approximately 25,000 square feet of land, (b) an existing building facility for continued use as an early childhood education center, and (c) other associated property and equipment, all located at 200 Plainfield Avenue, Plainfield, New Jersey 07060; (2) fund a debt service reserve fund, if any, with respect to the Bonds; and (3) fund certain costs of issuance with respect to the Bonds (collectively, the “Project”).  All of the land, facilities, property and/or equipment to be financed or refinanced with the proceeds of the Bonds are or will be owned and/or operated by the Borrower.

The Bonds will be special limited obligations of the Authority payable solely from the loan repayments to be made by the Borrower to the Authority and certain funds and accounts established by bond documents relating to the Bonds. The Bonds will not be a debt or other obligation of the Authority or of any other governmental entity in the State of New Jersey.

The hearing will provide a reasonable opportunity to be heard for persons wishing to express their views on the merits of the Project, its location, the issuance of the Bonds or related matters.  Interested persons who wish to provide information and make comments regarding the proposed issuance of the Bonds may appear in person or by attorney at the public hearing or participate in the public hearing by using the following call-in number:

Dial in: 1-888-790-3708

Conference ID: 7825427

Oral comments will be limited to 3 minutes per speaker.  A person wishing to speak at the hearing will be asked to provide his or her name, address and the person(s) or entity(ies) he or she represents, if any, prior to speaking.  This notice is given pursuant to the provisions of Section 147(f) of the Code.  Written comments will be accepted by the Authority c/o Naimah Marshall, Assistant Director-Business Banking, at Naimah.Marshall@njeda.gov, but must be received by 5:00 p.m. on the business day prior to the hearing.

Dated:  October 2, 2025