PA Department of Community and Economic Development
The mission of the Department of Community and Economic Development (DCED) is to foster opportunities for businesses to grow and for communities to succeed and thrive in a global economy. Our mission is to improve the quality of life for Pennsylvania citizens while assuring transparency and accountability in the expenditure of public funds.
400 North Street Harrisburg Pennsylvania 17120 United States
Notice is hereby given of a Public Hearing by the Pennsylvania Economic Development Financing Authority (the “Authority”) to be held on May 5, 2020 at 10:00 am prevailing time. Such hearing will be conducted for the purpose of receiving public comment with respect to the proposed issuance by the Authority of tax-exempt revenue bonds (the “Bonds”) to finance and refinance projects in the Commonwealth of Pennsylvania (the “Commonwealth”) located in York County, Blair County and Bedford County on behalf of the entities set forth below which constitute an Obligated Group.
NOTICE IS HEREBY GIVEN THAT AS A RESULT OF ORDERS ISSUED BY THE COMMONWEALTH OF PENNSYLVANIA IN CONNECTION WITH THE COVID-19 PANDEMIC PROHIBITING THE USE OF COMMONWEALTH FACILITES FOR USE FOR A PUBLIC MEETING OR OTHERWISE, THE PUBLIC HEARING WILL BE HELD REMOTELY. PERSONS DESIRING TO EXPRESS THEIR VIEWS ON THE PROJECT SHOULD FOLLOW THE INSTRUCTIONS CONTAINED BELOW IN THIS NOTICE.
Significant True Beneficial Party of Interest: An Obligated Group of Maryland non-stock corporations (qualified to do business in the Commonwealth) and organizations described in section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the “Code”), such corporations being: Homewood at Hanover PA, Inc. (“Hanover”), Homewood at Martinsburg PA, Inc. (“Martinsburg”) and Homewood at Spring House Estates, Inc. (Springhouse”). Homewood Retirement Centers, Inc., a Maryland non-stock corporation and an organization described in section 501(c)(3) of the Code, is the sole member of Hanover, Martinsburg and Springhouse but is not a member of the Obligated Group.
Description of Projects: The Projects consist of the issuance of qualified 501(c)(3) bonds as defined in Section 145 of the Internal Revenue Code of 1986, as amended, to finance and refinance: (i) independent living, assisted living, personal care and skilled nursing care facilities, including land acquisition owned by Hanover, Martinsburg and Springhouse; (ii) improvements and renovations to the existing continuing care retirement communities; and (iii) working capital expenditures, capitalized interest, if any, reserves, if any, and issuance costs and other costs of the transaction (the “Projects”) at the following locations.
Maximum Stated Principal Amount of the Bonds by Project Location:
$18,420,000 at Homewood at Hanover PA, Inc. (D/B/A Homewood at Plum Creek) located at 425 Westminster Avenue, Hanover, Pennsylvania.
$7,065,000 at Homewood at Martinsburg PA, Inc. located at 437 Givler Drive, Martinsburg, Pennsylvania.
$9,515,000 at Homewood at Springhouse Estates, Inc. located at 150 Victoria Avenue, Everett, Pennsylvania.
This notice is published and the public hearing is being held by the Authority as the issuer of the Bonds, as required by section 147(f) of the Code and regulations promulgated thereunder.
Additional information concerning the above may be obtained from the Authority c/o Craig Petrasic, Commonwealth Keystone Building, 400 North Street, 4th Floor, Harrisburg, Pennsylvania 17120 (telephone: (717) 720-1417), email: firstname.lastname@example.org. PERSONS DESIRING TO PARTICIPATE AND EXPRESS VIEWS DURING THE PUBLIC HEARING MAY DO SO BY: (i) DIALING INTO THE HEARING AT THE FOLLOWING TELEPHONE NUMBER: +1 929 205 6099 Meeting ID: 832 4635 9179 Password: 023962 or the following link:
(the telephone line will be activated 10 minutes before the scheduled hearing) or (ii) PROVIDING WRITTEN COMMENTS VIA EMAIL TO: email@example.com ON OR BEFORE THE DATE AND TIME OF THE HEARING. ANY COMMENTS RECEIVED VIA EMAIL WILL BE READ INTO THE RECORD AT THE PUBLIC HEARING.