Notice of Public Hearing
Notice is hereby given that the Philadelphia Authority for Industrial Development (the "Authority") will hold a public hearing on May 19, 2015, at 10:00 am local time, at the offices of Philadelphia Industrial Development Corporation located at 1500 Market Street, 2600 Centre Square West, Philadelphia, PA 19102, to discuss and consider the proposed issuance by Bangor Area Commercial and Industrial Development Authority ("BACIDA") of one or more series of its tax-exempt revenue bonds (the "2015 Bonds") for a project (the "Project") for the benefit of NorthEast Treatment Centers, Inc., a Pennsylvania not-for-profit corporation.
A. Project Owner: NorthEast Treatment Centers, Inc., exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, and qualified to do business in Pennsylvania.
B. Maximum Amount of Bonds: Not to exceed $7,000,000, in one or more series.
C. Description of Project to be Financed: The Project consists of (i) the costs (including the reimbursement and refinancing thereof) of the purchase of two lots with existing buildings located in the city of Philadelphia, Pennsylvania and related construction as follows: (a) the conversion of approximately 26,000 square feet of existing warehouse space in the first building (total square footage of 52,000), located at 7520 State Road, Philadelphia, Pennsylvania, into office space and the upgrade of associated utilities; (b) the demolition of a smaller building on the second lot at 7550 State Road, Philadelphia, Pennsylvania; (c) the construction of a parking lot on the second lot at 7550 State Road; (d) the furnishing and equipping of the building on the first lot at 7520 State Road; and (e) the overall rehabilitation and improvement of the space on both lots at 7520 State Road and 7550 State Road; and (ii) paying certain financing and other costs related to the issuance of the 2015 Bonds.
D. Location of Project: All of the equipment, facilities and buildings referred to herein are located on property at 7520 State Road and 7550 State Road, both in Philadelphia, Pennsylvania 19136.
Any and all persons in attendance will be afforded an opportunity to comment on the proposed issuance of the 2015 Bonds. If you need an accommodation due to a disability and want to attend this meeting, please call 215-496-8020 at least 24 hours in advance so arrangements can be made.
This notice is published in accordance with, and the public hearing is being held on behalf of BACIDA, as the issuer of the 2015 Bonds, and the Authority, as representative of the City of Philadelphia, where the Project will be located, as required by the Internal Revenue Code of 1986, as amended, and regulations promulgated thereunder.
PHILADELPHIA AUTHORITY FOR
INDUSTRIAL DEVELOPMENT
Telephone: (215) 496-8020
Ref# 0003213060-01
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