Notice of Public Hearing / Brevard County Health Facilities Authority

Agenda 3-17-21 (pdf 443 KB)

Notice is hereby given that the Brevard County Health Facilities Authority (the “Authority”) will conduct a public hearing concerning the proposed issuance by the Authority of its Brevard County Health Facilities Authority Refunding Revenue Bonds (Buena Vida Estates Project), Series 2021 (the “Bonds”), in an aggregate principal amount not to exceed $42,000,000. The proceeds of the Bonds would be used to: (i) currently refunding the Authority’s outstanding Revenue Note (Buena Vida Estates Inc.), Series 2016, the proceeds of which were used to finance and re-finance the construction of the existing facilities described below and (ii) finance the cost of the project described below.

Existing facilities to be refinanced: Continuing care retirement community with 162 independent living units, 32 assisted living units and 16 memory support units, with common and administrative spaces, in 5 buildings totaling approximately 244,000 square feet on the existing 13-acre campus located at 2129 West New Haven Avenue, West Melbourne, Florida 32904 (the “Main Campus”).

New project: 24 Independent Living Units in 12 buildings, clubhouse with pool, gas fire pit, pickle ball court and bocce ball court, all located on approximately 6.63 acres at 270 Woodland Drive, West Melbourne, Florida 32904, plus improvements at the Main Campus consisting of various capital improvements, including a new pavilion, pool, gas fire pit, putting green and shuffle board court.

The financed property is and will be owned and operated by Buena Vida Estates, Inc., and B.V. Assisted Living, Inc., which are Florida not-for-profit corporations (the “Owners”).

The public hearing will be held at the following time and location:

TIME LOCATION

3:00 P.M.

March 17, 2021

The Lecture Room

Brevard County Agricultural Center

3695 Lake Drive

Cocoa, Florida

The Bonds will be a limited obligation of the Authority payable solely from the payments to be made to the owner of the facility under the financing documents and from the other sources specified in such financing documents.

The public hearing is required by Section 147(f) of the Internal Revenue Code (the “Code”).  Any person interested in the proposed issuance of the Bonds or the project to be financed may appear and be heard. Subsequent to the hearing, the Board of County Commissioners of Brevard County, Florida will consider whether to approve the issuance of the Bonds, as required by Section 147(f) of the Code.

Interested persons are invited to submit written comments or present oral comments at the hearing regarding the proposed issuance of the Bonds. Written comments should be received by the Authority on or before March 16, 2021 or may be submitted at the hearing. Oral comments will be limited to no more than 10 minutes per person. Written comments or notice of intent to present oral comments should be directed to:

Brevard County Health Facilities Authority

4420 S. Washington Avenue

Titusville, Florida, 32780

Attention: Angela Abbott

SECTION 286.0105, FLORIDA STATUTES STATES THAT IF A PERSON DECIDES TO APPEAL ANY DECISION MADE BY A BOARD, AGENCY, OR COMMISSION WITH RESPECT TO ANY MATTER CONSIDERED AT A MEETING OR HEARING, SUCH PERSON WILL NEED A RECORD OF THE PROCEEDINGS, AND THAT, FOR SUCH PURPOSE, MAY NEED TO ENSURE THAT A VERBATIM RECORD OF THE PROCEEDINGS IS MADE, WHICH RECORD INCLUDES THE TESTIMONY AND EVIDENCE UPON WHICH THE APPEAL IS TO BE BASED.