NOTICE OF PUBLIC HEARING REGARDING THE ISSUANCE OF BONDS BY THE ECONOMIC DEVELOPMENT CORPORATION OF THE COUNTY OF OAKLAND FOR DOMINICAN HEALTH CARE CORPORATION D/B/A LOURDES SENIOR COMMUNITY NOTICE IS HEREBY GIVEN that the Board of Commissioners of the County of Oakland, Michigan, will hold a hearing in the Commissioners' Auditorium, 1200 North Telegraph Road, Pontiac, Michigan, on Thursday, August 13, 2026, beginning at 9:30 a.m., Eastern Time. The hearing shall consider whether the Board of Commissioners should approve the issuance of bonds (the “Bonds”) by The Economic Development Corporation of the County of Oakland (the “EDC”) for Dominican Health Care Corporation d/b/a Lourdes Senior Community, a Michigan nonprofit corporation (the “Borrower”). The hearing is required by the Internal Revenue Code of 1986, as amended (the “Code”), because the proceeds of the Bonds proposed to be issued will be used to finance the 2026 Project described below, to refinance certain outstanding indebtedness described below that was incurred to finance capital improvements to the Borrower’s facilities (the “Refinancing”), and to pay costs of issuing the Bonds. A public hearing is a condition precedent under the Code to issuing tax-exempt bonds for such purposes. 2026 Project Description: A portion of the proceeds of the Bonds will be used to finance all or a portion of the costs of the acquisition, construction, furnishing and development of a new 60 unit, approximately 88,000 sq. ft. independent living building expansion of the Fox Manor senior independent living facility within the Lourdes Senior Living Community campus (the "2026 Project") located at 2126, 2150, 2280 and 2300 Watkins Lake Road, Charter Township of Waterford, Oakland County Michigan (the “Lourdes Campus”), and pay costs of issuing the Bonds. Refinancing Description: A portion of the proceeds of the Bonds will be used to refinance the outstanding balance of the Michigan Strategic Fund Variable Rate Limited Obligation Revenue Bonds (Lourdes Senior Community Project), Series 2019 (the “Series 2019 Bonds”). The proceeds of the Series 2019 Bonds were used to: (i) finance or reimburse all or a portion of the costs of the demolition of two of the existing three licensed nursing care wings and the construction, renovation, installation, furnishing and equipping of two new wings to create 45 new private rooms and 5 new semiprivate rooms, located within the Lourdes Rehabilitation Healthcare Center on the Lourdes Campus; (ii) refund the outstanding principal amount of the Michigan Strategic Fund Variable Rate Limited Obligation Revenue Refunding Bonds, Series 2014 (the “Series 2014 Bonds”); and (iii) pay the costs of issuing the Series 2019 Bonds. The proceeds of the Series 2014 Bonds were used to: (i) finance or reimburse all or a portion of the costs of the construction, renovation and furnishing of 50 private skilled nursing rooms, with private bathrooms and showers, and the expansion of the rehabilitation and therapy facilities, all within the Lourdes Rehabilitation Healthcare Center located on the Lourdes Campus; and (ii) pay the costs of issuing the Series 2014 Bonds. The Bonds will be issued in a maximum principal amount of $18,000,000 for the 2026 Project and $14,750,000 for the Refinancing and bond issuance costs. The owners and operators of the 2026 Project and the facilities to be refinanced with the proceeds of the Bonds are the Borrower or its affiliates Fox Manor, Inc., Lourdes Assisted Living Corporation, Lourdes Alzheimers Special Care Center and Lourdes, Inc., each a Michigan nonprofit corporation with a charitable mission to provide healthcare, housing and related services to the elderly. The Bonds will be limited obligations of the EDC, payable only from loan repayments to be made by the Borrower to the EDC and certain other security to be provided by the Borrower. The Bonds will not constitute an indebtedness of the EDC, the County of Oakland or any political subdivision thereof within the meaning of any constitutional or statutory provision and will not constitute or give rise to a charge against the general credit of the EDC or the credit or taxing power of the County of Oakland or any political subdivision thereof. The EDC has no taxing power. The Board of Commissioners will consider whether to approve the issuance of the Bonds by the EDC, which are authorized to be issued by the EDC pursuant to Act 338, Public Acts of Michigan, 1974, as amended, as required by the Code. Information related to the Bonds and the 2026 Project is available for public inspection at the Office of Oakland County Economic Development & Community Affairs, Bldg. 41 West, 2100 Pontiac Lake Road, Waterford, Michigan, between the hours of 8:00 a.m. and 5:00 p.m., weekdays. Any aspect of the planned financing may be discussed at the public hearing and all interested persons will be given an opportunity to be heard. The hearing will provide the fullest opportunity for expression of opinion, arguments on the merits and introduction of documentary evidence relative to the financing. If you would prefer to send written comments for consideration, please forward them to Catherine Rasegan, Administrator, Financial Services, at the above address. If you have questions, you may call (248) 858-5101. Lisa Brown Oakland County Clerk Register of Deeds
