PUBLIC HEARING NOTICE
NOTICE IS HEREBY GIVEN that a public hearing will be held by the Philadelphia Authority for Industrial Development (the "Authority"), at 10:00 a.m., on Tuesday, March 24, 2015, in the offices of the Philadelphia Industrial Development Corporation located at 1500 Market Street, 2600 Centre Square West Tower, Philadelphia, PA 19102-2126, to discuss and consider the proposed issuance of indebtedness by the Authority to finance the following project (the "Project"):
A. Name of the Borrower/Initial Owner or Initial Operator of Facility: Greater Philadelphia Health Action, Inc. or an affiliate thereof
("GPHA").
B. Maximum Amount of Indebtedness: $62,000,000.
C. Description of Project: Acquisition of property and construction of an approximately 60,000 square foot medical center to be located at 1401 South 31st Street, Philadelphia, PA, and the renovation of GPHA's existing administration building located at 432 North 6th Street, Philadelphia, PA and the relocation of its Chinatown Medical Center therein. GPHA is also refinancing (i) the Authority's Variable Rate Healthcare Revenue Bonds (Greater Philadelphia Health Action Project) Series 2008, the proceeds of which were loaned to the Borrower and used to refund the Authority's Healthcare Revenue Bonds (Greater Philadelphia Health Action Project) Series of 2003 and refund other indebtedness of the Borrower, all of which financed projects of GPHA at the locations listed below and (ii) a Term Loan Note from Bank of America, N.A., that was used for capital improvements to the Borrower's facilities at the locations listed below. Additionally, proceeds of the borrowing may be used for further capital improvements to the Borrower's facilities at the locations listed below.
D. Location of Financed Facilities: (i) 1401 South 31st Street, Philadelphia, PA 19146, (ii) 432 North 6th Street, Philadelphia, PA 19123, (iii) 800 Washington Ave., Philadelphia, PA 19147, (iv) 4500-10 Frankford Ave., Philadelphia, PA 19124, (v) 1999 W. Hunting Park Ave., Philadelphia, PA 19140, (vi) 5501 Woodland Ave., Philadelphia, PA 19143, (vii) 930 Washington Ave., Philadelphia, PA 19147, (viii) 5000-40 Woodland Ave., Philadelphia, PA 19143, (ix) 2520 Snyder Ave, Philadelphia, PA 19145, and (x) 645-47 Bainbridge Street, Philadelphia, PA 19147.
This notice is published in accordance with, and the public hearing is being held by the Authority as the issuer of obligations as required by, the Internal Revenue Code of 1986, as amended, and regulations promulgated thereunder. At the public hearing, any and all persons in attendance will be afforded an opportunity to comment on the proposed Project and the proposed issuance of indebtedness.
PHILADELPHIA AUTHORITY FOR
INDUSTRIAL DEVELOPMENT
Ref# 0003203437-01
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