Denver Post, Notice is hereby given that the Executive Director of the Colorado Educational and Cultural Facilities Authority (the "Authority") will conduct a public hearing on September 8, 2014 (the "Public Hearing") concerning the approval of the plan of finance involving the making by the Authority of its Variable Rate Demand Revenue Tax-Exempt Loan (National Jewish Federation Bond Program) in one or more series in an aggregate principal amount not to exceed $31,000,000 (the "Loan"). The Public Hearing is a forum to discuss the plan of finance and the making of the Loan to finance the plan of finance and the projects described below. Proceeds of the Loan will be loaned by the Authority to JFMC Facilities Corporation, an Illinois not for profit corporation ("FC"), and Council for Jewish Elderly, an Illinois not for profit corporation ("CJE") for a plan of finance comprised of the following elements: (a) approximately $1,700,000 to refund a taxable loan used for mechanical and structural improvements at the Lieberman facility, a 240 bed skilled care facility located at 9700 Gross Point Road, Skokie, Illinois 60076 (the "Lieberman Facility"), which is owned and operated by CJE; (b) approximately $1,714,000 to refund a taxable loan used to rehabilitate the Jarvis House and the Farwell House, two HUD independent housing buildings, located at 1345 W. Jarvis Street, Chicago, Illinois 60626 and 1420 W. Farwell Avenue, Chicago, Illinois 60626, each of which are owned and operated by CJE; (c) approximately $4,200,000 of which (i) approximately $750,000 will be used to finance and (ii) approximately $3,500,000 will be used to refinance a taxable loan used to finance, the costs of renovating and improving five residential floors at the Lieberman facility, renovating and improving common areas at the Weinberg facility, located at 1551 and 1601 Lake Cook Road, Deerfield, Illinois 60015 (the "Weinberg Facility") which is owned by FC and leased to and operated by CJE, and constructing and equipping five new Friend Center units for early stage dementia care at the Weinberg Facility; (d) approximately $6,000,000 to current refund a portion of the Colorado Educational and Cultural Facilities Authority Variable Rate Demand Revenue Bonds (National Jewish Federation Bond Program), Series C-7 which were used for renovations and capital improvements at the Levy House located at 1221 Sherwin Avenue, Chicago, Illinois 60606 (the "Levy House") (the Levy House is an affordable housing apartment building for seniors which is owned and operated by CJE); (e) approximately $16,490,000 to current refund a portion of the Colorado Educational and Cultural Facilities Authority Variable Rate Demand Revenue Bonds (National Jewish Federation Bond Program), Series C-7 which were used to finance the development, marketing and soft costs related to a proposed but not completed Continuing Care Retirement Community proposed to be located at 1627 Lake Cook Road, Deerfield, Illinois 60015, and to be owned by FC and to be leased to and operated by CJE (collectively, the "Projects"); and (f) to finance certain costs of the Loan. The Loan and the interest thereon shall never constitute the debt or indebtedness of the Authority or any political subdivision of the State of Colorado (the "State") within the meaning of any provision of the Constitution of the State and shall not constitute nor give rise to a pecuniary liability or a charge against the general credit or taxing powers of the Authority or the State or any political subdivision of the State. All interested parties are invited to attend and present comments at the Public Hearing regarding the plan of finance, the Projects and the making of the Loan. The Public Hearing on the plan of finance, the Projects and the making of the Loan will be held on Monday, September 8, 2014 at 10:00 a.m., at the offices of the Authority located at 1981 Blake Street, Denver, Colorado 80202-1272. Written comments may also be submitted to the Authority at the Authority's address set forth above, until the date of the public hearing.
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