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Andy Beshear
Governor
Old Capitol Annex
300 West Broadway
Frankfort, KY 40601
Larry Hayes
Interim Secretary
March 17, 2020
For Immediate Release
 
Crystal Staley
502.564.2611

Jack Mazurak
502.782.1965

Notice of Public Hearing - TO BE CONDUCTED VIA VIDEO CONFERENCE


FRANKFORT, Ky. (March 17, 2020) – Notice is hereby given that the undersigned, on behalf of the Kentucky Economic Development Finance Authority (the “Authority”), will conduct a public hearing at 10:00 a.m. Eastern Daylight Savings Time, on March 25, 2020, in the first floor conference room of the Old Capitol Annex, 300 West Broadway, Frankfort, Kentucky, regarding the proposed issuance by the Authority of its healthcare facilities revenue bonds (the “Bonds”) in an aggregate principal amount not to exceed $62,000,000 for the benefit of the Christian Care Communities, Inc. Obligated Group.

The proceeds of the Bonds are expected to be used to (i) refinance certain existing revenue bonds and other indebtedness (collectively, the “Prior Debt”) of Christian Care Communities, Inc., The Broadhurst Group, Inc., Christian Care Services, Inc., Christian Care Properties, Inc., Christian Care Assisted Living – Bowling Green, Inc. and Christian Care Communities Foundation, Inc. (collectively with one or more affiliates of the foregoing, the “Obligated Group”), the proceeds of which Prior Debt were used to finance and refinance the costs of the acquisition, construction and equipping of health care and health related facilities, including long-term care facilities and housing for the aged or infirm, located in the Commonwealth and owned and/or operated by the members of the Obligated Group (collectively, the “Prior Project”), (ii) finance and refinance the costs of the acquisition, construction and equipping of health care and health related facilities, including long-term care facilities and housing for the aged or infirm, located in the Commonwealth and owned and/or operated by the members of the Obligated Group (collectively, the “New Project” and, together with the Prior Project, the "Project"), (iii) fund capitalized interest on all or a portion of the Bonds, (iv) fund a debt service reserve for the Bonds and (v) pay costs of issuance of the Bonds.  The Bonds will be qualified 501(c)(3) bonds as defined in Section 145 of the Internal Revenue Code of 1986, as amended, for the purposes described in the paragraph above.

The Obligated Group facilities comprising the Project include the following health care and health related facilities, long-term care facilities and/or housing for the aged or infirm: 1800 Westen Street, Bowling Green, KY, known as Village Manor, Christian Health Center and Christian Care Assisted Living – Bowling Green; Commonwealth Avenue and Masters Street, Corbin, KY, known as The Village at Corbin; 116 Commonwealth Avenue, Corbin, KY, known as the Christian Health Center; 2260-2280 Maplebrook Court, Owensboro, KY, known as Maplebrook Village; 200 Sterling Drive, Hopkinsville, KY, known as the Christian Health Center; 200-220 Chambers Court, Hopkinsville, KY, known as Chambers Court; 101 North Drive, Hopkinsville, KY, known as Cornell Memory Center; Cox Mill Road at Sterling Drive, Hopkinsville, KY, known as Cox Mill Court; 2422 Camilla Drive, Hopkinsville, KY, known as The Village; 920 South Fourth Street, Louisville, KY, known as Christian Health Center; 12710 Townepark Way, Suite 1000, Louisville, KY, office building containing corporate headquarters for the Obligated Group; and 5220 Grey Oak Lane, Nicholasville, KY, known as Bridgepointe at Ashgrove Woods.  One or more members of the Obligated Group are the initial owners and operators of the Project.

The aggregate principal amount of the Bonds will not exceed $62,000,000.  The aggregate principal amount of the Bonds used to finance or refinance any component of the Project at any individual address described above is not expected to exceed $16,000,000. THE BONDS SHALL NOT REPRESENT OR CONSTITUTE A DEBT OR PLEDGE OF THE FAITH AND CREDIT OR THE TAXING POWER OF THE COMMONWEALTH OF KENTUCKY, ANY POLITICAL AGENCY OR SUBDIVISION THEREOF OR THE AUTHORITY. 

Due to the current health emergency, members of the general public will not be able to attend this Public Hearing in person.  However, interested persons are invited to express their views concerning the proposed issuance of the Bonds in one of two ways: (1) by participating in the Public Hearing through a remote conferencing service (at no cost) by clicking on the following link:  https://zoom.us/j/5144936754, which will provide instructions to participate in the Public Hearing by videoconference or teleconference, or (2) written comments may also be given by submitting them to Katie Smith, by calling her at (502) 782-1987, by emailing her at Katie.Smith@ky.gov or by writing her in care of Kentucky Economic Development Finance Authority, Old Capitol Annex, 300 West Broadway, Frankfort, Kentucky 40601, prior to the Public Hearing.

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