Notice is hereby given that on September 23, 2021, a public hearing will be held virtually utilizing Microsoft Teams with a call-in number of 1-440-462-2064, ID number 129559779#, commencing at 10:00a.m., Eastern Time, with respect to the proposal for the Illinois Finance Authority, a body politic and corporate of the State of Illinois (the “Illinois Authority”), to issue bonds in an aggregate principal amount not to exceed $33,000,000, in one or more series (the “Bonds”) pursuant to the Illinois Finance Authority Act, 20 ILCS 3501/801-1, et seq., as amended, for the purpose of, in part, refinancing facilities located in Cuyahoga County, Ohio. The proceeds of the Bonds will be loaned to Franciscan Communities, Inc., an Indiana nonprofit corporation authorized to do business in the States of Illinois and Ohio (the “Borrower”), or a related entity, to provide the Borrower or a related entity, including University Place, Inc., an Indiana nonprofit corporation, with moneys for the refunding of existing bonds the proceeds of which financed and refinanced facilities located in the County of Cuyahoga, Ohio and in the States of Illinois and Indiana. Public approval by the State of Illinois will be obtained following a public notice and public hearing in Illinois regarding the Bonds and the Illinois facilities to be refinanced by the proceeds thereof. Public approval by the State of Indiana will be obtained following a public notice and public hearing in Indiana regarding the Bonds and the Indiana facilities to be refinanced by the proceeds thereof.

The proceeds of the Bonds will be used, together with certain other moneys, to (i) refund all or a portion of one or more series of the outstanding (a) Illinois Finance Authority Revenue Bonds, Series 2017B (Franciscan Communities, Inc. Obligated Group) (the “Series 2017B Bonds”), (b) Illinois Finance Authority Revenue Bonds, Series 2017C (Franciscan Communities, Inc. Obligated Group) (the “Series 2017C Bonds”) and (c) Illinois Finance Authority Revenue Bonds, Series 2017D (Franciscan Communities, Inc. Obligated Group) (the “Series 2017D Bonds” and, collectively with the Series 2017B Bonds and the Series 2017C Bonds, the “Prior Bonds”); (ii) fund a debt service reserve fund for the benefit of the Bonds, if deemed necessary or advisable by the Borrower or the Illinois Authority; (iii) pay a portion of the interest accruing on the Bonds, if deemed necessary or advisable by the Borrower or the Illinois Authority; and (iv) pay certain expenses incurred in connection with the issuance of the Bonds and the refunding of the Prior Bonds.

The proceeds of the Prior Bonds were used, together with other moneys available to the Borrower, to (i) finance, refinance or reimburse the Borrower, or a related entity, for the payment of certain costs of acquiring, constructing, renovating, remodeling and equipping certain senior living facilities owned and operated by the Borrower or a related entity located in the States of Illinois, Indiana and Ohio; (ii) refund all of the (a) Illinois Finance Authority Revenue Bonds, Series 2004B (Franciscan Communities, Inc.) Extendable Rate Adjustable SecuritiesSM (EXTRASSM), (b) Illinois Finance Authority Revenue Refunding Bonds, Series 2007A (Franciscan Communities, Inc.), (c) Illinois Finance Authority Revenue Bonds, Series 2013B (Franciscan Communities, Inc.), (d) County of Cuyahoga, Ohio Health Care Facilities Revenue Bonds, Series 2004C (Franciscan Communities, Inc. – Mount Alverna Project), and (e) County of Cuyahoga, Ohio Health Care Facilities Revenue Bonds, Series 2004D (Franciscan Communities, Inc. – Mount Alverna Project) Extendable Rate Adjustable SecuritiesSM (EXTRASSM); and (iii) pay certain costs of issuance.

The current owner or principal user of the facility located in the State of Ohio being refinanced with the proceeds of the Bonds is the Borrower or a related entity, and such facility is known as Mount Alverna Village, and is located at 6765 State Road, Parma, Ohio.

This public hearing is required by Section 147(f) of the Internal Revenue Code of 1986, as amended. Persons wishing to express their views on the proposed bond issuance may appear at the public hearing or may submit their views in writing. Any written submissions should be sent to the Cuyahoga County Department of Development, 2079 East 9th Street, 7th Floor, Cleveland, Ohio, 44115, Attention: Sara Parks Jackson, and be clearly marked “Re: Illinois Finance Authority Revenue Refunding Bonds, Series 2021 (Franciscan Communities, Inc. Obligated Group).” Written submissions should be mailed in sufficient time to be received before 2:00 p.m., September 22, 2021.