PUBLIC NOTICE OF TAX EQUITY AND FISCAL RESPONSIBILITY ACT HEARING

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1 Tuesday, April 4, 2017 PUBLIC NOTICE OF TAX EQUITY AND FISCAL RESPONSIBILITY ACT HEARING The Illinois Finance Authority (the IFA ) will hold a public hearing as required by Section 147(f) of the Internal Revenue Code of 1986, as amended, at 500 East Monroe, 11 th Floor, Springfield, Illinois on Friday, April 7, 2017 at 9:00 a.m. This Notice is issued pursuant to the provisions of the Illinois Open Meetings Act, 5 ILCS 120/1 et seq., as supplemented and amended. Those wishing to provide public comment are invited to do so, pursuant to the Guidelines for Public Comment prescribed by the IFA and posted at Please contact Tammy Harter, Administrative Assistant, at (217) for more information. By Order of the Members of the Authority, CHRISTOPHER B. MEISTER EXECUTIVE DIRECTOR ILLINOIS FINANCE AUTHORITY TEFRA HEARING Friday, April 7, :00 AM AGENDA: Summary of Projects Beginning Farmer Bonds (a) Benjamin Wendling and Amberlyn Wendling Adventist Health System/Sunbelt Obligated Group Muirfield West LLC (Camcraft, Inc. Project) Ann & Robert H. Lurie Children s Hospital of Chicago The Lodge of Northbrook, Inc. Project Pacific Oaks Education Corporation/TCS Education System Project Westminster Village, Inc. $258, $10,000, $225,000, $21,000, $22,000, $36,000, Total $589,258, All meetings will be accessible to handicapped individuals in compliance with Executive Order #5 (1979) as well as pertinent State and Federal laws upon notification of anticipated attendance. Handicapped persons planning to attend any meeting and needing special accommodations should contact Mari Money at the Illinois Finance Authority by calling (312) , TTY (800)

2 Project Descriptions 1. Beginning Farmer Bonds (a) Benjamin Wendling and Amberlyn Wendling - The Authority will consider issuing its Agricultural Development Revenue Bond in an aggregated principal amount not to exceed $258, Proceeds to be used by Benjamin Wendling and Amberlyn Wendling for the purchase of all or a portion of the cost of farmland reached by driving from Eberle, IL travel 2 miles west on County Hwy 12, thence south 1 mile on County Road 1700 E, thence west ½ mile on County Road 100 N to subject property on the north side of the road. Subject property is in Effingham County, Union Township, Illinois. 2. Adventist Health System/Sunbelt Obligated Group - A public hearing will be held before the Executive Director of the Illinois Finance Authority (the Authority ), or his designee, regarding (i) a plan by the Highlands County Health Facilities Authority to issue its Revenue Bonds (Adventist Health System/Sunbelt Obligated Group) in an aggregate principal amount not to exceed $275,000,000 with respect to facilities in Illinois, in one or more series over the longest period permitted by law, (ii) a plan by the Orange County Health Facilities Authority to issue its Revenue Bonds (Adventist Health System/Sunbelt Obligated Group) in an aggregate principal amount not to exceed $275,000,000 with respect to facilities in Illinois, in one or more series over the longest period permitted by law, (iii) a plan by the Colorado Health Facilities Authority to issue its Revenue Bonds (Adventist Health System/Sunbelt Obligated Group) in an aggregate principal amount not to exceed $275,000,000 with respect to facilities in Illinois, in one or more series over the longest period permitted by law, (iv) a plan by the Kansas Development Finance Authority to issue its Revenue Bonds (Adventist Health System/Sunbelt Obligated Group) in an aggregate principal amount not to exceed $275,000,000 with respect to facilities in Illinois, in one or more series over the longest period permitted by law, and (v) a plan by the Highlands County Health Facilities Authority to issue its Revenue Bonds (Adventist Health System/Sunbelt, Inc. Accounts Receivable Program) in an aggregate principal amount not to exceed $275,000,000 with respect to facilities in Illinois, in one or more series over the longest period permitted by law. The proceeds of the bonds issued under each of such plans (the Bonds ) will be used to (a) finance, refinance, or reimburse the costs of acquiring, constructing, renovating and equipping certain health care facilities at the locations listed below, (b) provide one or more debt service reserve funds for the benefit of all or a portion of the Bonds, if deemed necessary or desirable, (c) pay a portion of the interest to accrue on the Bonds, if deemed necessary or desirable, (d) pay certain working capital expenditures, if deemed necessary or desirable, and (e) pay certain costs of issuance of the Bonds, including the costs of any credit or liquidity enhancement thereof, if deemed necessary or desirable. The proceeds of the Bonds will be used to finance, refinance or reimburse the costs of acquiring, constructing, improving or renovating the facilities (including related land costs) listed below and the costs of acquiring and installing equipment (including, but not limited to, medical equipment, computer equipment, office equipment and general building equipment and fixtures) to be used at the facilities listed below. The initial owner, operator or manager, a general functional description and the location of each such facility, and the estimated maximum aggregate principal amount of Bonds to be issued with respect to each such facility, are listed below. A. Facilities owned, operated or managed by Adventist Midwest Health, an Illinois not-for-profit corporation: 1. Adventist Hinsdale Hospital, a 261-bed acute care hospital located at 119, 120 and 135 North Oak Street, Hinsdale, Illinois-----$100,000,000; 2. Adventist LaGrange Memorial Hospital, a 220-bed acute care hospital located at 5101 and 5201 South Willow Springs Road, LaGrange, Illinois-----$75,000,000. B. Facility owned, operated or managed by Adventist GlenOaks Hospital, an Illinois not-for-profit corporation: Adventist GlenOaks Hospital, a 143-bed acute care hospital $258, Page 2

3 located at 701 Winthrop Avenue, Glendale Heights, Illinois-----$50,000,000. C. Facility owned, operated or managed by Adventist Bolingbrook Hospital, an Illinois not-for-profit corporation: Adventist Bolingbrook Hospital, a 138-bed acute care hospital and related medical clinics, offices and ancillary facilities, located at 500 Remington Boulevard, Bolingbrook, Illinois-----$50,000, Muirfield West LLC (Camcraft, Inc. Project) - A public hearing will be held before the Executive Director of the Illinois Finance Authority (the Authority ), or his designee, regarding a plan to issue not to exceed $10,000,000 aggregate principal amount of the Industrial Development Revenue Bonds, Series 2017 (Camcraft, Inc. Project), of the Authority, in one or more series (the Bonds ). The proceeds of the Bonds will be loaned to Muirfield West LLC, an Illinois limited liability company (the Borrower ), and will be used to finance or reimburse, as applicable, a portion of the costs of acquisition of currently vacant land and the construction thereon of an approximately 100,000 square foot building to be located in the Brewster Creek Business Park, in the Village of Bartlett, DuPage County, Illinois, and the acquisition and installation of machinery and equipment therein, all to be used as manufacturing facilities (the Project ), to be owned by the Borrower and leased from the Borrower for operation by (i) Camcraft, Inc., an Illinois corporation ( Camcraft ) for producing engine components for cars, trucks and construction equipment with its street address being 1367 Schiferl Road, Bartlett, Illinois, within the Brewster Creek Business Park, and (ii) Matrix Design LLC, an Illinois limited liability company ( Matrix ) for developing and building robotic automation systems with its street address being 1361 Schiferl Road, Bartlett, Illinois, within the Brewster Creek Business Park, and to pay all or a portion of permissible costs relating to the issuance of the Bonds. 4. Ann & Robert H. Lurie Children s Hospital of Chicago - A public hearing will be held before the Executive Director of the Illinois Finance Authority (the Authority ), or his designee, regarding a plan of finance to issue not to exceed $225,000,000 aggregate principal amount of Revenue Refunding Bonds, Series 2017 (Ann & Robert H. Lurie Children s Hospital of Chicago) of the Authority, in one or more series (the Bonds ). The proceeds of the Bonds will be loaned to Ann & Robert H. Lurie Children s Hospital of Chicago (formerly, The Children s Memorial Hospital), an Illinois not for profit corporation (the Borrower ), to be used, together with certain other funds, to (i) refund all or a portion of the Illinois Finance Authority s Insured Revenue Bonds, Series 2008A (The Children s Memorial Hospital) (the Series 2008A Bonds ); (ii) refund all or a portion of the Illinois Finance Authority s Revenue Bonds, Series 2008B (The Children s Memorial Hospital) (the Series 2008B Bonds and, together with the Series 2008A Bonds, the Prior Bonds ); (iii) fund one or more debt service reserve funds, if deemed necessary or advisable by the Authority or the Borrower; (iv) pay a portion of the interest on the Bonds, if deemed necessary or advisable by the Authority or the Borrower; and (v) pay certain expenses incurred in connection with the issuance of the Bonds and the refunding of the Prior Bonds. The proceeds of the Prior Bonds were used to (i) pay or reimburse the Borrower for, or refinance outstanding indebtedness the proceeds of which were used for, the payment of the costs of acquiring, constructing, renovating, remodeling and equipping certain health facilities owned by the Borrower, including the Ann & Robert H. Lurie Children s Hospital of Chicago located at 225 East Chicago, Chicago, Illinois; (ii) pay a portion of the interest on the Prior Bonds; (iii) establish a debt service reserve fund for the Series 2008B Bonds; and (iv) pay certain expenses incurred in connection with the issuance of the Prior Bonds. The initial owner, operator or manager of the facilities financed or refinanced with the proceeds of the Bonds or the Prior Bonds is the Borrower. The facilities financed or refinanced with the proceeds of the Bonds or the Prior Bonds are located at 225 East Chicago, Chicago, Illinois. 5. The Lodge of Northbrook, Inc. Project - A public hearing will be held before the Executive Director of the Illinois Finance Authority (the Authority ), or his designee, regarding a plan to issue not to exceed $21,000,000 aggregate principal amount of $10,000, $225,000, $21,000, Page 3

4 Development Revenue Bonds, Series 2017 (The Lodge of Northbrook, Inc. Project), of the Authority, in one or more series (the "Bonds"). The proceeds of the Bonds will be loaned to The Lodge of Northbrook, Inc., an Illinois nonprofit corporation (the "Borrower"), and will be used for the purpose of defraying the cost of acquiring, purchasing and constructing a leasehold interest in land, and buildings and other improvements (including necessary expenses incidental thereto) suitable for use as a housing facility for the elderly. The initial owner, operator or manager of the facilities being financed or refinanced with the proceeds of the Bonds is the Borrower. The facility to be financed or refinanced with the proceeds of the Bonds, is located on approximately acres of leased land and, as Phase III, consists of a three-story brick 18-unit senior living facility of 44,764 square feet with approximately 9,526 square feet of underground parking and as Phase IV consists of an additional facility on approximately acres of the leased land consisting of 60 independent living units and 8 two-bed assisted living units in an approximately 157,983 square foot three-story structure with approximately 26,266 square feet of underground parking and necessary equipment suitable for use as Phase III and Phase IV of a housing complex for the elderly. The complex is located within the corporate boundaries of Northbrook, Illinois at 2220 Founders Drive, Northbrook, IL Pacific Oaks Education Corporation/TCS Education System Project - A public hearing will be held before the Executive Director of the Illinois Finance Authority (the Authority ), or his designee, regarding the issuance by the Authority of its not to exceed $22,000,000 aggregate principal amount Educational Facility Revenue Notes (Pacific Oaks Education Corporation/TCS Education System Project), Series 2017 (the Notes ) in one or more series. Proceeds of the Notes will be loaned to Pacific Oaks Education Corporation, a California nonprofit public benefit corporation (the Borrower ), whose sole member is TCS Education System, an Illinois not for profit corporation, in order to finance, together with other funds, costs of the acquisition by the Borrower of land and four buildings located at 45 Eureka Street (approximately 15,505 square feet), 55 Eureka Street (approximately 28,787 square feet), 433 North Fair Oaks Avenue (approximately 25,827 square feet) and 100 West Villa Street (approximately 5,823 square feet), all in Pasadena, California, and renovations to such buildings, including, but not limited to, the redesign of the library, classroom improvements, accessibility improvements such as ADA enhancements, creation of common spaces for students and external community events and additional and more functional workspaces for faculty, staff and students in the buildings located at 45 Eureka Street and 55 Eureka Street (the Project ), and paying costs of issuance and other costs related to the Notes. The Project will be owned by the Borrower. The buildings located at 45 Eureka Street and 55 Eureka Street are currently leased by the Borrower and will continue to be operated following acquisition by the Borrower as the Pacific Oaks College, which offers a range of bachelor s, master s and certificate programs. One floor of the building located at 433 North Fair Oaks Avenue is and will initially continue to be leased to the State of California Unemployment Insurance Appeals Board and the other floor, which is currently vacant, may be leased to unrelated third parties or ultimately used by the Borrower in its educational operations. The building located at 100 West Villa Street is and will initially continue to be leased to unrelated third parties, initially Vance Wealth Group, Inc. and Braun Fitness. 7. Westminster Village, Inc. - A public hearing will be held before the Executive Director of the Illinois Finance Authority (the Authority ), or his designee, regarding a plan of finance to issue one or more series of the Authority s revenue bonds (the Bonds ), in an aggregate principal amount not to exceed $36,000,000. The proceeds of the Bonds will be loaned to Westminster Village, Inc., a not for profit corporation duly organized and existing and in good standing under the laws of the State of Illinois (the Corporation ), and will be used, together with certain other funds, to provide the Corporation with moneys necessary to (i) pay or reimburse the Corporation for the costs of constructing, renovating, remodeling and equipping certain facilities of the Corporation, including, but not limited to, the construction and equipping of an approximately 38,370 square foot, 48- $22,000, $36,000, Page 4

5 unit, two story addition to the Martin Healthcare Center and the construction and equipment of an approximately 13,295 square foot addition to its community center, located at the Corporation s continuing care retirement community known as Westminster Village in Bloomington, Illinois (the Campus ) (collectively, the Project ), (ii) pay a portion of the interest on the Bonds, if deemed necessary or desirable by the Authority and/or the Corporation, (iii) provide working capital, if deemed necessary or desirable by the Authority and/or the Corporation, (iv) establish a debt service reserve fund, if deemed necessary or desirable by the Authority and/or the Corporation, and (v) pay certain expenses incurred in connection with the issuance of the Bonds. The owner, operator or manager of the facilities being financed with the proceeds of the Bonds will be the Corporation. The facilities to be financed with the proceeds of the Bonds are or will be located on the Corporation s approximately 40-acre Campus at 2025 East Lincoln Street, Bloomington, Illinois Total: $589,258, Page 5

6 Tuesday, April 4, 2017 PUBLIC NOTICE OF TAX EQUITY AND FISCAL RESPONSIBILITY ACT HEARING The Illinois Finance Authority (the IFA ) will hold a public hearing as required by Section 147(f) of the Internal Revenue Code of 1986, as amended, at 160 North LaSalle Street, Suite S- 1000, Chicago, Illinois on Friday, April 7, 2017 at 9:00 a.m. This Notice is issued pursuant to the provisions of the Illinois Open Meetings Act, 5 ILCS 120/1 et seq., as supplemented and amended. Those wishing to provide public comment are invited to do so, pursuant to the Guidelines for Public Comment prescribed by the IFA and posted at Please contact Tammy Harter, Administrative Assistant, at (217) for more information. By Order of the Members of the Authority, CHRISTOPHER B. MEISTER EXECUTIVE DIRECTOR ILLINOIS FINANCE AUTHORITY TEFRA HEARING Friday, April 7, :00 AM AGENDA: Summary of Projects 1. Adventist Health System/Sunbelt Obligated Group Total All meetings will be accessible to handicapped individuals in compliance with Executive Order #5 (1979) as well as pertinent State and Federal laws upon notification of anticipated attendance. Handicapped persons planning to attend any meeting and needing special accommodations should contact Mari Money at the Illinois Finance Authority by calling (312) , TTY (800)

7 Project Descriptions 1. Adventist Health System/Sunbelt Obligated Group - A public hearing will be held before the Executive Director of the Illinois Finance Authority (the Authority ), or his designee, regarding (i) a plan by the Highlands County Health Facilities Authority to issue its Revenue Bonds (Adventist Health System/Sunbelt Obligated Group) in an aggregate principal amount not to exceed $275,000,000 with respect to facilities in Illinois, in one or more series over the longest period permitted by law, (ii) a plan by the Orange County Health Facilities Authority to issue its Revenue Bonds (Adventist Health System/Sunbelt Obligated Group) in an aggregate principal amount not to exceed $275,000,000 with respect to facilities in Illinois, in one or more series over the longest period permitted by law, (iii) a plan by the Colorado Health Facilities Authority to issue its Revenue Bonds (Adventist Health System/Sunbelt Obligated Group) in an aggregate principal amount not to exceed $275,000,000 with respect to facilities in Illinois, in one or more series over the longest period permitted by law, (iv) a plan by the Kansas Development Finance Authority to issue its Revenue Bonds (Adventist Health System/Sunbelt Obligated Group) in an aggregate principal amount not to exceed $275,000,000 with respect to facilities in Illinois, in one or more series over the longest period permitted by law, and (v) a plan by the Highlands County Health Facilities Authority to issue its Revenue Bonds (Adventist Health System/Sunbelt, Inc. Accounts Receivable Program) in an aggregate principal amount not to exceed $275,000,000 with respect to facilities in Illinois, in one or more series over the longest period permitted by law. The proceeds of the bonds issued under each of such plans (the Bonds ) will be used to (a) finance, refinance, or reimburse the costs of acquiring, constructing, renovating and equipping certain health care facilities at the locations listed below, (b) provide one or more debt service reserve funds for the benefit of all or a portion of the Bonds, if deemed necessary or desirable, (c) pay a portion of the interest to accrue on the Bonds, if deemed necessary or desirable, (d) pay certain working capital expenditures, if deemed necessary or desirable, and (e) pay certain costs of issuance of the Bonds, including the costs of any credit or liquidity enhancement thereof, if deemed necessary or desirable. The proceeds of the Bonds will be used to finance, refinance or reimburse the costs of acquiring, constructing, improving or renovating the facilities (including related land costs) listed below and the costs of acquiring and installing equipment (including, but not limited to, medical equipment, computer equipment, office equipment and general building equipment and fixtures) to be used at the facilities listed below. The initial owner, operator or manager, a general functional description and the location of each such facility, and the estimated maximum aggregate principal amount of Bonds to be issued with respect to each such facility, are listed below. A. Facilities owned, operated or managed by Adventist Midwest Health, an Illinois not-for-profit corporation: 1. Adventist Hinsdale Hospital, a 261-bed acute care hospital located at 119, 120 and 135 North Oak Street, Hinsdale, Illinois-----$100,000,000; 2. Adventist LaGrange Memorial Hospital, a 220-bed acute care hospital located at 5101 and 5201 South Willow Springs Road, LaGrange, Illinois-----$75,000,000. B. Facility owned, operated or managed by Adventist GlenOaks Hospital, an Illinois not-for-profit corporation: Adventist GlenOaks Hospital, a 143-bed acute care hospital located at 701 Winthrop Avenue, Glendale Heights, Illinois-----$50,000,000. C. Facility owned, operated or managed by Adventist Bolingbrook Hospital, an Illinois not-for-profit corporation: Adventist Bolingbrook Hospital, a 138-bed acute care hospital and related medical clinics, offices and ancillary facilities, located at 500 Remington Boulevard, Bolingbrook, Illinois-----$50,000,000. Total: Page 2

PUBLIC NOTICE OF TAX EQUITY AND FISCAL RESPONSIBILITY ACT HEARING

Tuesday, April 5, 2016 PUBLIC NOTICE OF TAX EQUITY AND FISCAL RESPONSIBILITY ACT HEARING The Illinois Finance Authority (the IFA ) will hold a public hearing as required by Section 147(f) of the Internal