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TEFRA Hearing Notice: Presbyterian Homes, CV, and PHPH

  • STARTApr 20th - 2:00pm

  • ENDApr 20th - 2:00pm

  • VENUE4th Floor, Commonwealth Keystone Building

April 20 @ 2:00 pm EDT

The Pennsylvania Economic Development Financing Authority (the “Authority”) will hold a hearing on the proposed issue of tax-exempt obligations on Tuesday, April 20, 2021 at 2:00 p.m. by teleconference (Toll Free Dial-in Number: 1-888-475-4499; Meeting ID: 6077873259). NOTICE IS HEREBY GIVEN THAT, AS A RESULT OF ORDERS ISSUED BY THE COMMONWEALTH OF PENNSYLVANIA IN CONNECTION WITH THE COVID-19 PANDEMIC, THE PUBLIC HEARING WILL BE HELD REMOTELY, IN THE MANNER PROVIDED IN THIS NOTICE. The purpose of this meeting is to invite members of the public to express their views, both orally and in writing, on the proposed tax-exempt obligations and the facilities to be financed.

Project Owner: Presbyterian Homes, Inc., 1 Trinity Drive, Suite 201, Dillsburg, PA, 17019 (“Presbyterian Homes”), together with Cathedral Village (“CV”), and Presbyterian Homes in the Presbytery of Huntingdon (“PHPH”), each a Pennsylvania nonprofit corporation

Project Applicant: Capital Region Economic Development Corporation, a body corporate and politic created under the Pennsylvania Economic Development Financing Law

Project Occupants: The initial occupants of the Project will be Presbyterian Homes, CV, and PHPH

Maximum Principal Amount of the Obligations: $78,000,000

Project Description, Location, and Amount of Financing: (I) capital projects including renovations, restorations, expansions, upgrades, alterations, repairs, capital equipment and furnishing acquisitions and construction of general capital improvements to or for the facilities located at

7 East Locust Street, Oxford, Chester County, Pennsylvania (the “Ware Facilities”) in the approximate maximum principal amount of $16,500,000;

1 Kirkland Village Circle, Bethlehem, Northampton County, Pennsylvania (the “Kirkland Facilities”) in the approximate maximum principal amount of $11,500,000;

600 East Cathedral Road, Philadelphia, Pennsylvania (the “CV Facilities”) in the approximate maximum principal amount of $12,500,000; and

(II) refunding projects including refunding the following obligations:

(i) Cumberland County Municipal Authority’s Variable Rate Revenue Bonds, Series B of 2003 (Presbyterian Homes, Inc. Project) issued for the benefit of the Presbyterian Homes facilities located at the Kirkland Facilities, the Ware Facilities, Green Ridge Village, 201 Big Spring Road, Newville, Cumberland County, PA 17241, Westminster Village, 803 North Wahneta Street, Allentown, Lehigh County, PA 18103 St. Andrews Village, 1155 Indian Springs Road, Indiana, Indiana County, PA 15701, Forest Park Health Center, 700 Walnut Bottom Road, Carlisle, Cumberland County, PA 17103, Sycamore Manor, 1445, Sycamore Road, Montoursville, Lycoming County, PA 17754, Williamsport Home, 810 Louisa Street, Williamsport, Lycoming County, PA, Easton Home, 1022 Northampton Street, Easton, Northampton County, PA 18042, Hutchinson House, 445 Valley Forge Road, Devon, Chester County, PA 19333, Presbyterian Health Center, 400 East Marshall Street, West Chester, Chester County, PA 19380, Administrative offices, 1217 Slate Hill Road, Camp Hill, Cumberland County, PA 17011, and Age Well Center, Westgate Mall, 2341 M Schoenersville Road, Bethlehem, Lehigh County, PA 18017 in the approximate maximum principal amount of $5,400,000;

(ii) College Township Industrial Development Authority’s Mortgage Revenue Note (Presbyterian Homes in the Presbytery of Huntingdon – Windy Hill), Series of 2005 issued for the benefit of the Presbyterian Homes facilities located at 100 Dogwood Drive, Philipsburg, Centre County, PA  16866 in the approximate maximum principal amount of $1,500,000;

(iii) Uwchlan Township Industrial Development Authority’s Revenue Note, Series of 2012 (Ware Presbyterian Village Project) issued for the benefit of the Ware Facilities in the approximate maximum amount of $6,400,000;

(iv) Cumberland County Municipal Authority’s Revenue Bond, Series A and B of 2013 (Presbyterian Homes Obligated Group Project) issued for the benefit of the Presbyterian Homes facilities located at the Ware Facilities, the Kirkland Facilities, Green Ridge Village, 210 Big Spring Road, Newville, Cumberland County, PA 17241, Westminster Village, 803 North Wahneta Street, Allentown, Lehigh County, PA 18103, St. Andrew’s Village, 1155 Indian Springs Road, Indiana, Indiana County, PA 15701, Forest Park Health Center, 700 Walnut Bottom Road, Carlisle, Cumberland County, PA 17013, Sycamore Manor, 1445 Sycamore Road, Montoursville, Lycoming County, PA 17754, Williamsport Home, 810 Louisa Street, Williamsport, PA, Lycoming County, PA 17701, Easton Home, 1022 Northampton Street, Easton, Northampton County, PA 18042, Carroll Village, 11 Tristan Drive Dillsburg, PA 17019, and The Long Community, 600 East Roseville Road Lancaster, PA 17601, and the PHPH located at Presbyterian Home of Hollidaysburg, 220 Newry Street, Hollidaysburg, Blair County, PA 16648 and Westminster Woods at Huntingdon, 360 Westminster Drive, Huntingdon, Huntingdon County, PA 16652 in the approximate maximum principal amount of $7,700,000;

(v) Abington Township Industrial and Commercial Development Authority’s Revenue Bond, Series 2015 (Presbyterian Homes Obligated Group Project) issued for the benefit of the CV Facilities and the Presbyterian Homes facilities located at 1155 Indian Springs Road, Indiana, PA  15701 and 220 Newry Street, Hollidaysburg, PA 16648 in the approximate maximum amount of $7,500,000;

(vi) Philadelphia Authority for Industrial Development’s Revenue Bonds (Cathedral Village Project), Series 2013 issued for the benefit of the CV Facilities in the approximate maximum amount of $9,000,000; and

(III) costs of issuance of the Obligations.

The Obligations will be special limited obligations of the Authority payable only from the loan repayments to be made by the Project Owners to the Authority.

The public is invited to attend the hearing in the manner set forth above and all persons in attendance will be given the opportunity to be heard. The Authority requests that interested parties submit any comments in writing. All attendance inquiries should be directed to Craig Petrasic, Assistant Director, or Brian Deamer, Project Manager, Pennsylvania Economic Development Financing Authority, Commonwealth Keystone Building, 400 North Street, 4th Floor, Harrisburg, Pennsylvania 17120, (717) 783-1109.

The public hearing is being held by or on behalf of the Commonwealth of Pennsylvania, the elected governmental officials who must approve the Project and the issuance of such Obligations in accordance with requirements of Section 147 of the Internal Revenue Code of 1986, as amended (the “Code”).

This notice is published in accordance with the requirements of the Code and the regulations promulgated thereunder.

Details

Date:
April 20
Time:
2:00 pm EDT
Event Categories:
Commonwealth Financing Authority, PEDFA Board Meetings

Venue

4th Floor, Commonwealth Keystone Building
400 North Street
Harrisburg, PA 17120 United States
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