Hearings

Date/Time

9/17/2020  9:00 AM

Location

Main Conference Room of the Authority, NorthGate Business Park, 180 Association Drive, Charleston, West Virginia or via teleconference, due to COVID-19 pandemic, Toll-Free Dial in Number 1-888-273-3658, Access Code: 9045340

Purpose

NOTICE IS HEREBY GIVEN that on Thursday, September 17, 2020, at 9:00 a.m. prevailing time, representatives of the West Virginia Economic Development Authority (the Authority) will hold a public hearing in the Main Conference Room of the Authority, NorthGate Business Park, 180 Association Drive, Charleston, West Virginia, and by teleconference, on the proposed issuance by the Authority of its revenue bonds (the Bonds) pursuant to Chapter 31, Article 15, Code of West Virginia of 1931, as amended, in one or more series, in the maximum aggregate principal amount of Seven Million Dollars ($7,000,000) for the purpose of financing a portion of the costs of the renovation, improvement, equipping and furnishing of a portion of the existing Edgewood Summit Senior Living Community, a senior living community located at 300 Baker Lane in the City of Charleston adjacent to Cato Park, which portion of the Community being renovated, improved, equipped and furnished consists of 127 independent living units, 40 assisting living units and 26 garages in a building containing 3 floors and approximately 215,000 gross square feet of space constructed on a parcel of land containing 37 acres, more or less, owned by the Authority and leased to Edgewood Summit, Inc., a West Virginia nonprofit corporation that leases, operates and uses the Community. Such renovations and improvements may include, but not be limited to, the following: reconfiguration of the main entrance lobby and library; renovation of the existing caf/coffee venue on the second level; reconfiguration of the existing dining room to provide both formal and more casual dining options; addition of hospitality bar and lounge; enclosing the open air balcony on the second floor to create more common area space; expansion of the fitness space and creation of a separate group exercise classroom; renovation of existing independent living apartments and common area corridors; and/or reconfiguration of existing space to provide a marketing suite and meditation space.

The teleconference information is as follows: Toll-Free Dial in Number 1-888-273-3658, Access Code: 9045340. To promote and protect the safety of both the public and the Authoritys staff in light of the COVID-19 pandemic, in lieu of physical attendance at the public hearing, interested persons may participate in the hearing by teleconference.

A report of the hearing will be forwarded to the Governor of the State of West Virginia, being the applicable elected representative of the State required to approve the issuance of the Bonds pursuant to Section 147(f) of the Internal Revenue Code of 1986, as amended. The Bonds will be special obligations of the Authority payable exclusively from the funds pledged or assigned therefor, and neither the faith and credit nor the taxing power of the State of West Virginia, the Authority or any political subdivision thereof will be pledged as security for payment of the Bonds. The Authority has no taxing power.

All interested individuals are invited to participate in the hearing to express their views, orally or in writing, on the proposed issue of Bonds and the location and the nature of the proposed project to be financed with the Bonds. Interested individuals may also submit written comments to the Authority at NorthGate Business Park, 180 Association Drive, Charleston, West Virginia 25311, to the attention of the Associate Director, or email at Caren.D.Wilcher@wv.gov, before the public hearing on September 17, 2020.

Dated: September 9, 2020.

Michael R. Graney, Chairman

Caren D. Wilcher, Associate Director