Matthew G. Bevin
Governor
Old Capitol Annex
300 West Broadway Frankfort, KY 40601
Vivek Sarin
Interim Secretary
June 12, 2019
For Immediate Release
 
Woody Maglinger
502.564.2611

Jack Mazurak
502.782.1965

Notice of Public Hearing


FRANKFORT, Ky. (June 12, 2019) – Notice is hereby given that the undersigned, on behalf of the Kentucky Economic Development Finance Authority (the “Authority”), will conduct a public hearing at 9:00 a.m. Eastern Time, on June 27, 2019, 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 industrial building revenue bonds (the “Bonds”) in an aggregate principal amount not to exceed $330,000,000 for the benefit of the CommonSpirit Health system.

The Authority has previously issued bonds for the benefit of Catholic Health Initiatives, a Colorado nonprofit corporation (“CHI”).  Effective February 1, 2019, CHI and Dignity Health, a California nonprofit public benefit corporation (“Dignity Health”) aligned their respective health care ministries to create a single, Catholic, nonprofit health system known as CommonSpirit Health (the “System”).

The proceeds of the Bonds are expected to be used to (a) (i) acquisition finance all or a portion of projects financed and/or refinanced by the Authority’s Revenue Bonds (Catholic Health Initiatives) Series 2013A (the “2013A Bonds”) and/or (ii) refinance all or a portion of the Authority’s Revenue Bonds (Catholic Health Initiatives) Series 2004C, 2009A, 2011B-1 and 2011B-2 (collectively with the 2013A Bonds, the “Existing Bonds”), (b) pay costs of issuance, and (c) fund a debt service reserve fund for the Bonds, if the System determines it is necessary and desirable. 

The proceeds of the Existing Bonds were used to finance, refinance, pay or reimburse the costs of acquisition, construction, renovation and installation of certain additions and improvements to and equipment at certain health care and health related facilities described below (including the related land, parking garages, office buildings, clinics, warehouses and other buildings) located on the campuses identified below (collectively, the “Projects”), in amounts no greater than those listed below, which are owned or operated by CHI (now known as CommonSpirit Health), CHI Kentucky, Inc., KentuckyOne Health, Inc., Flaget Healthcare, Inc., Saint Joseph Health System, Inc., and/or their subsidiaries or affiliates (collectively, the “System Affiliates”):

St. Joseph Hospital (Lexington): Up to $135,000,000 at the campus, which is bordered generally by Waller Ave to the northeast, St. Joseph Drive to the southeast, Bob-O-Link Dr to the southwest and Harrodsburg Rd to the northwest and is identified by various addresses including, but not limited to One Saint Joseph Dr, Lexington, KY;

St. Joseph East (Lexington): Up to $40,000,000 at the campus, which is bordered generally by Richmond Rd to the south, Blazer Pkwy to the north, Yorkshire Blvd to the east and N Eagle Creek Dr to the west and is identified by various addresses including, but not limited to 150 and 170 N Eagle Creek Dr, Lexington, KY;

St. Joseph London (London): Up $240,000,000 at the campus, which is bordered generally by Interstate I 75 to the east and Parker Rd to the west and is identified by various addresses including, but not limited to 1001 Saint Joseph Drive, London, KY;

St. Joseph Mount Sterling (Mount Sterling): Up $52,000,000 at the campus, which is bordered generally by Falcon Dr to the south, Maysville Rd to the west, I-64 to the north and farm land to the east, and is identified by various addresses including, but not limited to 225 Falcon Dr, Mount Sterling, KY;

St. Joseph Nicholasville (Nicholasville): Up $42,000,000 at the campus, which is bordered generally by residential development to the east, KY 169 (Keene Rd) to the south and the Nicholasville Bypass (U.S. 27) to the west and east, and is identified by various addresses including, but not limited to 1250 Keene Rd and 1208 Keene Rd, Nicholasville, KY; and

Flaget Memorial Hospital (Bardstown): Up to $46,000,000 at the campus, which is bordered generally by New Sheperdsville Road to the east and private roads to the north, west and south, and is identified by various addresses including, but not limited to 4305 New Sheperdsville Rd, Bardstown, KY.

The System reserves the right to allocate and reallocate the proceeds of Bonds to any of the locations set forth in this notice, notwithstanding the dollar amounts set forth herein.

Interested persons who wish to express their views either orally or in writing concerning the proposed issuance of Bonds or the location and nature of the Projects to be refinanced and/or acquisition financed thereby will be given the opportunity to do so at the above stated time and place.  Additional information concerning the Projects may be obtained, and any other prior inquiry or comment concerning the Projects may be made, by contacting the undersigned at Old Capitol Annex, 300 West Broadway, Frankfort, Kentucky 40601, telephone (502) 782-1987.

 

 

The Kentucky Cabinet for Economic Development is the primary state agency responsible for encouraging new jobs and investment in the state. New capital investment announced in Kentucky under the Bevin Administration has totaled more than $19 billion, spurring nearly 52,000 projected new jobs. Information on available industrial properties, workforce development assistance, incentive programs, community profiles, small business development and other economic development resources is available at www.ThinkKentucky.com. Follow the Cabinet at facebook.com/ThinkKentucky, on Twitter @ThinkKentucky and on LinkedIn, and watch the Cabinet’s “Now you Know” video on YouTube.