NOTICE OF PUBLIC HEARING AND PUBLIC MEETING

NOTICE IS HEREBY GIVEN that a public hearing will be held on the 24th day of July, 2024 at 8:30 a.m. or as soon thereafter as may be heard at 101 Old Main Street West, Bradenton, Florida 34205 by the City Council of the City of Bradenton, Florida (the "City of Bradenton") relating to the issuance by the Orange County Health Facilities Authority (the "Issuer") of the Issuer's Revenue Bonds (Presbyterian Retirement Communities Obligated Group Project), Series 2024, pursuant to a plan of finance described herein in one or more installments or series in an aggregate principal amount not to exceed $95,000,000 (collectively, the "Bonds") for the purpose of financing and refinancing (including through reimbursement): (i) the acquisition, development, construction, equipping, furnishing and improvement of capital projects for continuing care retirement communities located in the City of Bradenton, Florida, Leon County, Florida, Orange County, Florida, St. Johns County, Florida and the City of St. Petersburg, Florida (as further defined and described below, the "Facilities"), (ii) the refunding of certain bonds described below and (iii) the payment of certain costs of issuance of the Bonds (collectively, the "Project"). The Bonds will be qualified 501(c)(3) bonds as defined in Section 145 of the Internal Revenue Code of 1986, as amended (the "Code"). The Obligated Group is composed of Presbyterian Retirement Communities, Inc. ("PRC"), Palm Shores Retirement Community, Inc., Suncoast Manor Retirement Community, Inc., Wesley Manor, Inc., Westminster Pines, Inc., Westminster Retirement Communities Foundation, Inc., Westminster Services, Inc. and Westminster Shores, Inc. Florida Presbyterian Homes, Inc. ("FPH") is expected to be admitted to the Obligated Group upon the issuance of the Bonds. It is the intention of the Obligated Group and the Issuer that the first series of Bonds will be issued no later than one year from the date of approval of the plan of finance described herein.

The Facilities consist of the following: (a) Infrastructure replacements, updates and other capital improvements at Westminster Manor, 1700 21st Ave West, Bradenton, Florida 32405 and Westminster Point Pleasant, 1533 Fourth Avenue, Bradenton, Florida 34205 in an amount not to exceed $8,000,000 and, at Westminster Point Pleasant, the replacement of sanitary sewer stacks at an estimated cost of $8,000,000. Both of these Facilities are owned by PRC. (b) The construction and equipping of a new lifelong learning center and infrastructure replacements, updates and other capital improvements at Westminster Winter Park, 1111 South Lakemont Avenue, Winter Park, Florida 32792 in an amount not to exceed $11,000,000 and infrastructure replacements, updates and other capital improvements at Westminster Towers, 70 West Lucerne Circle, Orlando, Florida 32801 in an amount not to exceed $6,000,000. Both of these Facilities are owned by PRC. (c) Infrastructure replacements, updates and other capital improvements at Westminster Woods on Julington Creek, 25 State Road 13, Jacksonville, Florida 32259 (located in Fruit Cove in St. Johns County) in an amount not to exceed $20,000,000. This Facility is owned by Wesley Manor, Inc. and PRC. (d) The construction and equipping of a new lifelong learning center, new villa homes and apartments and other replacements, updates and capital improvements at Westminster St. Augustine, the main office for the campus being located at 235 Towerview Drive, St. Augustine, Florida 32092 and property to the south that is contiguous to the Westminster St. Augustine community on the southern side of the retention pond in an amount not to exceed $23,500,000. This Facility is owned by Westminster Pines, Inc. (e) Infrastructure replacements, updates and other capital improvements at Westminster Shores, 125 56th Avenue South, St. Petersburg, Florida 32705 in an amount not to exceed $4,000,000. This Facility is owned by Westminster Shores, Inc. (f) The replacement of the Palm View building's windows and faade and other capital improvements at Westminster Palms, 939 10th Avenue N, St. Petersburg, Florida 33701 in an amount not to exceed $12,000,000. This Facility is owned by Palm Shores Retirement Community, Inc. (g) The construction and equipping of a new memory care building and infrastructure replacements, updates and other capital improvements at Westminster Suncoast, 1095 Pinellas Point Dr. S, St. Petersburg, Florida 33705 in an amount not to exceed $14,000,000. This Facility is owned by Suncoast Manor Retirement Community, Inc.

The bonds to be refunded are as follows: (a) The Orange County Health Facilities Authority Revenue Bonds (Presbyterian Retirement Communities Project), Series 2014 presently outstanding in the aggregate principal amount of $29,850,000 (the "2014 Bonds"). The 2014 Bonds financed renovations at Westminster Manor, 1700 21st Avenue West, Bradenton, Florida 32405, elevator modernization at Westminster Towers in Orlando at the above address, construction of residential building units and refurbishing of related common areas and converting assisted living units to skilled nursing/rehabilitation units at Westminster Woods on Julington Creek at the above address, construction of residential units and a parking structure at Westminster Oaks, 4449 Meandering Way, Tallahassee, Florida 32308, construction of residential units at Westminster Shores at the address above, refurbishing of common areas and a new roof and window replacements at the Shores building at Westminster Point Pleasant, 1533 4th Avenue W, Bradenton, Florida 34205. The 2014 Bonds also refunded the St. Johns County Industrial Development Authority First Mortgage Revenue Bonds (Presbyterian Retirement Communities Project), Series 2004A and Series 2004B (collectively, the "2004 Bonds"). The 2004 Bonds financed capital additions and improvements at Westminster Oaks (owned by PRC) and other Facilities owned by the Obligated Group. (b) The Polk County Industrial Development Authority Health Care Facilities Revenue Bond (Florida Presbyterian Homes Project), Series 2010A and Series 2015 outstanding as of May 15, 2024 in the aggregate principal amount of $14,403,681.17 (the "FPH Bonds"). The FPH Bonds financed renovations at FPH, 16 Lake Hunter Drive, Lakeland, Florida 33803. The FPH Bonds also financed the construction of assisted living apartments, independent living units and executive office space as well as an apartment building located at 320 Cannon Street, Lakeland, Florida 33803, the expansion, renovation and equipping of a two-story skilled nursing facility at 909 South Lakeside Drive, Lakeland, Florida 33803 and acquisition, construction and renovation of multiple independent living units at 824/826, 828/830 and 829 Lakeside Court, Lakeland, Florida 33803 all owned by FPH.

The Bonds and the interest thereon will be limited obligations of the Issuer payable solely from (i) loan payments to be made by the Obligated Group and (ii) other moneys pledged therefor under the financing documents for the Bonds. The Bonds will not constitute a general indebtedness or a charge against the general credit of the Issuer. Neither the faith nor credit of the Issuer, the City of Bradenton, the State of Florida, or any political subdivision or municipality thereof, will be pledged to the payment of the principal of or interest on the Bonds and the Bonds shall not constitute a debt, liability or obligation of the Issuer, the City of Bradenton, the State of Florida, or any political subdivision or municipality thereof. The Issuer has no taxing power.

The public hearing held by the City of Bradenton is required by Section 147(f) of the Code. Any person interested in the proposed issuance of the Bonds may be heard as described below. Subsequent to the public hearing, the City Council of the City of Bradenton, Florida (the "Council") will consider whether to approve the Bonds, as required by Section 147(f) of the Code.

The public hearing held by the City of Bradenton will be conducted in a manner that provides a reasonable opportunity to be heard for persons with differing views on the issuance of the Bonds. All interested persons are invited to attend this hearing and, either personally or through their representative, present oral or written comments and discussion concerning the proposed issuance of the Bonds for the Project, particularly the Facilities located in the City of Bradenton.

Written comments may also be submitted to the City of Bradenton by mail to the attention of the City Clerk, Tamara Melton, 10 Old Main Street West, Bradenton, Florida 34205; cityclerk@cityofbradenton.com. Additional information can be obtained from that office.

Pursuant to Section 286.0105, Florida Statutes, as amended, the City of Bradenton hereby advises that if any person decides to appeal any decision made by the City of Bradenton with respect to any matter considered at such public hearing and meeting, such person will need a record of the proceedings and, for such purpose, may need to insure that a verbatim record of the proceedings is made, which record includes the testimony and the evidence upon which the appeal is to be based.

In accordance with the Americans with Disabilities Act, persons needing a special accommodation to participate in this proceeding should contact the individual or agency publishing this notice no later than seven days prior to the proceeding at the address given in this notice or by calling the City Clerk, Tamara Melton, 101 Old Main Street West, Bradenton, Florida 34205, telephone: (941) 932-9461.

DATED: June 25, 2024.

By: CITY OF BRADENTON, FLORIDA

IPL0180427

Jun 25 2024