Tampa Bay Times
April 2, 2025
HIGHER EDUCATIONAL FACILITIES FINANCING AUTHORITY
NOTICE OF MEETING AND PUBLIC HEARING
For the purposes of Section 147(f) of the Internal Revenue Code of 1986, as amended (the Code), notice is hereby given that the Higher Educational Facilities Financing Authority (the Issuer) will hold a public hearing on April 9, 2025, at 1:00 P.M. EDT, or as soon thereafter as practicable, at 542 East Park Avenue, Tallahassee, Florida, regarding the proposed issuance of one or more series of its bonds for the benefit of Everglades College, Inc., a Florida not-for-profit corporation (the Borrower). In accordance with Internal Revenue Service Revenue Procedure 2022-20, this public hearing will also be accessible by telephone conference and Zoom. Interested persons are encouraged to attend telephonically or via video conferencing using the following instructions:
In order to call in to, listen and/or speak at the hearing - please dial the following toll free number: (800) 719-7514 when prompted please use access code: 596984# or attend via Zoom at:
https://zoom.us/j/98122201186?pwd=a9LcTMWbpstXaVtP7PfxbcPvUvRiIp.1, Meeting ID: 981 2220 1186, Passcode: 133644.
The Issuer will consider the preliminary authorization to issue its Higher Educational Facilities Revenue Bonds (Keiser University Project), Series 2025 on behalf of the Borrower in an amount not to exceed $325,000,000, to be issued in one or more tax-exempt and/or taxable series of qualified 501(c)(3) bonds, as defined in Section 145 of the Code, pursuant to a plan of finance (collectively, the Bonds). The proceeds of the Bonds, when and if issued, will be loaned to the Borrower to: (a) finance and refinance (including reimbursement for prior related expenditures) various acquisitions and capital improvements related to certain higher educational and related ancillary facilities of the Borrower at the locations described below; (b) fund necessary reserves and capitalized interest related the Bonds, if deemed necessary or desirable; and (c) pay certain costs of issuance related to the Bonds (collectively, the Project).
The Borrowers acquisitions and capital improvements are described and located as follows: (1) acquiring land and educational facilities at 1800 Business Park Blvd., Daytona Beach, Volusia County, Florida 32114 (anticipated to be allocated a maximum aggregate principal amount of $1,984,360 of the Bonds); (2) acquiring land and educational facilities at 1500 Northwest 49th Street, Fort Lauderdale, Broward County, Florida 33309 (anticipated to be allocated a maximum aggregate principal amount of $19,668,000 of the Bonds); (3) acquiring land and educational facilities at 1600 West Commercial Blvd, Fort Lauderdale, Broward County, Florida 33309 (anticipated to be allocated a maximum aggregate principal amount of $4,294,000 of the Bonds); (4) acquiring land and educational facilities at 1900 West Commercial Blvd, Fort Lauderdale, Broward County, Florida 33309 (anticipated to be allocated a maximum aggregate principal amount of $21,981,000 of the Bonds); (5) acquiring land and educational facilities at 9100 Forum Corporate Pkwy., Fort Myers, Lee County, Florida 33905 (anticipated to be allocated a maximum aggregate principal amount of $8,773,000 of the Bonds); (6) acquiring land and educational facilities at 2380 & 2400 Interstate Drive, Lakeland, Polk County, Florida 33805 (anticipated to be allocated a maximum aggregate principal amount of $20,183,000 of the Bonds); (7) acquiring land and educational facilities at 800 and 900 South Babcock St., Melbourne, Brevard County, Florida 32901 (anticipated to be allocated a maximum aggregate principal amount of $8,809,000 of the Bonds); (8) acquisition of land and educational facilities at 5600 Lake Underhill Road, Orlando, Orange County, Florida 32807 (anticipated to be allocated a maximum aggregate principal amount of $5,430,880 of the Bonds); (9) acquiring land and educational facilities at 1640 SW 145th Ave., Pembroke Pines, Broward County, Florida 33027 (anticipated to be allocated a maximum aggregate principal amount of $25,478,000 of the Bonds); (10) acquiring land and educational facilities at 6001 & 6151 Lake Osprey Drive, Sarasota, Sarasota County, Florida 34240 (anticipated to be allocated a maximum aggregate principal amount of $41,585,000 of the Bonds); (11) acquisition of land and educational facilities at 1700 Halstead Blvd., Building 2, Tallahassee, Leon County, Florida 32309 (anticipated to be allocated a maximum aggregate principal amount of $3,028,760 of the Bonds); (12) acquiring land and educational facilities at 5002 West Waters Ave., Tampa, Hillsborough County, Florida 33634 (anticipated to be allocated a maximum aggregate principal amount of $20,761,000 of the Bonds); (13) acquisition of land and educational facilities, construction and equipping of an approximately 155,170 sq. ft., five-story student housing facility estimated to hold 148 four-bed suites and other ancillary spaces, and construction and equipping of an approximately 95,040 sq. ft., five-story STEM instruction facility estimated to hold 53 labs and other ancillary spaces at 2600 North Military Trail, West Palm Beach, Palm Beach County, Florida 33409 (anticipated to be allocated a maximum aggregate principal amount of $118,846,000 of the Bonds); and (14) acquiring land and educational facilities at 2081 and 2085 Vista Pkwy, West Palm Beach, Palm Beach County, Florida 33411 (anticipated to be allocated a maximum aggregate principal amount of $21,970,000 of the Bonds).
The Facilities will continue to be owned by the Borrower or an affiliate thereof and shall be operated by such entities (or an entity or entities affiliated with or designated thereby pursuant to one or more qualified use or management agreements).
The Bonds shall be payable solely from the revenues derived by the Issuer from a loan agreement and other financing documents entered into by and between the Issuer and the Borrower prior to or contemporaneously with the issuance of the Bonds. Such Bonds and the interest thereon shall not constitute an indebtedness or pledge of the general credit or taxing power, if any, of the Issuer, the local jurisdictions in which portions of the Project are located, the State of Florida, or any political subdivision or agency thereof. The Issuer has no taxing power.
Issuance of the Bonds shall be subject to several conditions including satisfactory documentation, the approval by bond counsel as to the tax-exempt status of the interest on all or a portion of the Bonds and receipt of necessary approvals for the financing.
The aforementioned hearing shall be a public hearing and all persons who may be interested will be given an opportunity to be heard concerning the same. Written comments or documentation may also be submitted to the Issuer prior to the hearing addressed to: Higher Educational Facilities Financing Authority 542 East Park Avenue, Tallahassee, Florida 33201, Attention: Executive Director. Submitted documents and materials will be included in the public record for the referenced hearing. Any person deciding to appeal any decision made by the Issuer with respect to any matter considered at the above noticed meeting or hearing will require a record of the proceedings, and for such purposes 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.
Pursuant to the provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this meeting is asked to advise the agency at least five days before the meeting by contacting: Danie Griffin-Turner, Florida Higher Educational Facilities Financing Authority, 542 East Park Avenue, Tallahassee, Florida 32301, (850) 681-3188, x201 or via email at dgriffin-turner@heffa.org. If you are hearing or speech impaired, please contact the agency using the Florida Relay Service, 1 (800) 955-8771 (TDD) or 1 (800) 955-8770 (Voice)
By order of the Higher Educational Facilities Financing Authority.
/s/ Robert J. Boyd, Executive Director
April 2, 2025 31473
Miscellaneous Notices