Notice of Public Hearing
NOTICE OF PUBLIC HEARING
FOR ISSUANCE OF QUALIFIED 501(C)(3) BOND
BY THE WASHINGTON HEALTH CARE FACILITIES AUTHORITY
The Washington Health Care Facilities Authority (the “Authority”) will hold a public hearing using a toll-free telephone number at the date and time designated below regarding the proposed issuance by the Authority of a tax-exempt special fund revenue “qualified 501(c)(3) bonds,” as defined in Section 145 of the Internal Revenue Code of 1986, as amended (the “Code”), in one or more series, in an original aggregate stated principal amount not to exceed $80,800,000 (the “Series 2021 Bonds”).
The proceeds of the Series 2021 Bonds will be loaned to Northwest Kidney Centers (“NKC”), a Washington nonprofit corporation and a “501(c)(3) organization,” as defined in the Code, and will be used (a) to finance, refinance, pay or reimburse the costs of the Projects listed below, including through the refunding of the Existing Debt described below; and (b) to pay costs of issuing the Series 2021 Bonds.
The “Existing Debt” consists of (1) the WASHINGTON HEALTH CARE FACILITIES AUTHORITY REVENUE BONDS, SERIES 2018A (Northwest Kidney Centers), (2) the WASHINGTON HEALTH CARE FACILITIES AUTHORITY REVENUE BOND, SERIES 2019 (Northwest Kidney Centers), and (3) a taxable short-term commercial loan incurred to acquire land.
NKC will be the initial legal owner and/or principal user of the projects to be financed and/or refinanced with the proceeds of the Series 2021 Bonds (collectively, the “Projects”). The Projects consist of the acquisition, construction, renovation, remodeling, expansion and equipping of real property (including land, buildings, parking surfaces and facilities and other structures) and personal property (including equipment and fixtures) used or useful in connection with the provision of outpatient dialysis services, inpatient (hospital) dialysis services and a home dialysis program located at the following locations, which will be financed or refinanced with Series 2021 Bond proceeds in the following maximum stated principal amounts:
Up to $11,385,000 at the Kent Panther Lake Kidney Center, a new dialysis center to be located at 10821 SE 204th Street (formerly known as 20406 108th Avenue SE), Kent, Washington 98031.
Up to $7,885,000 at the Port Angeles Kidney Center, a relocated dialysis center to be located at 707 South Chase Street, Port Angeles, Washington 98362.
Up to $12,280,000 at a new dialysis center to be located on currently undeveloped land in downtown Seattle, Washington 98104, bordered generally by Yesler Way to the south, Interstate 5 to the west, Alder Street to the north and Eighth Avenue to the east.
Up to $5,290,000 at the Renton Kidney Center, a dialysis center located at 602 Oakesdale Avenue SW, Renton, Washington 98057.
Up to $3,680,000 at the Lake Washington Kidney Center (Bellevue Kidney Center), a dialysis center located at 1474 112th Avenue NE, Bellevue, Washington 98004, including replacement of the water system.
Up to $32,230,000 at the Burien Kidney Center, a dialysis center located at 12901 20th Avenue S. and 1903 South 128th Street, SeaTac, Washington 98168.
Up to $8,745,000 at the Rainier Beach Kidney Center, a dialysis center located at 4401 South Trenton Street, Seattle, Washington 98118.
NKC reserves the right to allocate and reallocate proceeds of the Series 2021 Bonds to any of the locations set forth in this notice, notwithstanding the dollar amounts set forth herein.
A public hearing with respect to the proposed issuance of the Series 2021 Bonds will be held at 10:00 a.m. Pacific Daylight Time on May 4, 2021. In light of the COVID-19 public health crisis, such public hearing will be conducted remotely, through the use of a telephone conference. All interested persons are invited to listen to, and participate in, the public hearing by calling into the teleconference using the toll-free number 1-855-929-3239 and entering conference code 3720 2330#. In order to facilitate registration of participants to the teleconference, it is requested that such persons call the above number no later than 9:55 a.m. (5 minutes before start time). Written comments can be submitted to the Authority via email at email@example.com no later than 9:30 a.m. Pacific Daylight Time (30 minutes before start time) on the date of the public hearing
Dated: April 23, 2021