Florida Housing Finance Corporation (“Florida Housing”) will conduct a public hearing in accordance with the Tax Equity and Fiscal Responsibility Act of 1982 (“TEFRA”) to which all interested persons are invited. To conduct a TEFRA hearing concerning the potential future issuance of tax-exempt bonds by Florida Housing to finance the acquisition and rehabilitation of the following multifamily residential rental development in the aggregate face amount, not to exceed the amount listed below: Pensacola Village Apartments, a 200-unit multifamily residential rental development located on E. Fairfield Drive, approximately 395 feet east of the northeast corner of the intersection of E. Fairfield Drive and N. Davis Hwy. and on E. Fairfield Drive, approximately 395 feet east of and 1025 feet north of the northeast corner of the intersection of E. Fairfield Drive and N. Davis Hwy with a street address of 500 E. Fairfield Drive, Pensacola, Escambia County, FL 32503. The prospective owner and operator of the proposed development is CEC Pensacola Village, LLC, 151 Summer Street, Somerville, MA 02143, or such successor in interest in which Created Equal Communities, LLC, or an affiliate thereof, is a managing member, general partner and/or controlling stockholder. The prospective manager of the proposed development is Royal American Management, 1002 West 23rd Street, Suite 400, Panama City, FL 32405. The total tax-exempt bond amount is not to exceed $10,200,000.00. All interested parties may present oral comments at the public TEFRA hearing or submit written comments regarding the potential bond issuance for the development being financed. Written comments should be received by Florida Housing by 5:00pm (Tallahassee local time), May 30, 2007, and should be addressed to the attention of Wayne Conner, Deputy Development Officer. Any persons desiring to present oral comments should appear at the hearing. If requested in writing, a fact-finding hearing will be held in the county where the property is located. When possible, the local hearing will be held before the formal TEFRA hearing and comments received at the local hearing will be placed on record at the TEFRA hearing.