To conduct a TEFRA hearing concerning the potential future issuance of tax-exempt bonds by Florida Housing to provide additional financing for the acquisition, construction or rehabilitation of the following multifamily residential rental development in the aggregate face amount, not to exceed the amount listed below: Sand Dunes Apartments, a 104-unit multifamily residential rental development located on 8011 Front Beach Road in Panama City Beach, Bay County, Florida 32413. The owner and operator of the development is Sand Dunes Redevelopment, Ltd., 8300 Greensboro Drive, Suite 800, McLean, VA 22102 or such successor in interest in which SCG Development Company, L.L.C or Royal American Development, Inc. 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, Inc., 1002 West 23rd Street, Suite 400, Panama City, Florida 32405. The tax-exempt bond amount is not to exceed $7,750,000. 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 5:00 p.m. (Tallahassee Local Time), July 25, 2011, and should be addressed to the Attention: Len Stirrat, Multifamily Bond Administrator. 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.