NOTICE OF MEETING AND PUBLIC HEARINGS
THE HEALTH AND EDUCATIONAL FACILITIES BOARD OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY, TENNESSEE (the "Board"), will meet in public session at 11:00 a.m. local time, on Monday, February 23, 2026 in Metropolitan County Council Committee Room No. 2, 2nd Floor, in the Metropolitan Courthouse, 1 Public Square, Nashville, Tennessee, for the purpose of considering and transacting all business which may properly come before the Board, such business to include, but not necessarily be limited to, the following:
1. Pursuant to Section 8-44-112 of the Tennessee Code Annotated, the Board holds a designated public comment period at each meeting. Members of the public in attendance may provide comments to the Board during such designated time. No advance registration is required.
2. The request of APP Fallbrook Partners, L.L.L.P., a Tennessee limited liability limited partnership, for preliminary approval of the issuance of multifamily housing revenue bonds, in one or more series (the "Fallbrook Bonds"), in an amount not to exceed $28,000,000, the proceeds of the sale thereof to be loaned to APP Fallbrook Partners, L.L.L.P. to finance the acquisition, rehabilitation, and equipping of an approximately 244 unit multifamily housing facility located at or near 345 Dellway Villa Drive, Nashville, Davidson County, Tennessee 37207 (the "Fallbrook Project"). APP Fallbrook Partners, L.L.L.P. will be the owner and operator of the Fallbrook Project to be financed with the proceeds of the Fallbrook Bonds.
3. The request of Skyline Ridge Apartments LP a Tennessee limited partnership, for preliminary approval of the issuance of multifamily housing revenue bonds, in one or more series (the "Skyline Ridge Bonds"), in an amount not to exceed $32,000,000, the proceeds of the sale thereof to be loaned to Skyline Ridge Apartments LP to finance the acquisition, construction, and equipping of an approximately 240 unit multifamily housing facility to be located at or near 0 Skyline Ridge, Madison, Davidson County, Tennessee 37115 (the "Skyline Ridge Project"). Skyline Ridge Apartments LP will be the owner and operator of the Skyline Ridge Project to be financed with the proceeds of the Skyline Ridge Bonds.
4. The request of Pedcor Investments-2025-CCXVI, L.P., an Indiana limited partnership, for preliminary approval of the issuance of multifamily housing revenue bonds, in one or more series (the "Weatherly Ridge Bonds"), in an amount not to exceed $28,000,000, the proceeds of the sale thereof to be loaned to Pedcor Investments-2025-CCXVI, L.P. to finance the acquisition, rehabilitation, and equipping of an approximately 240 unit multifamily housing facility located at or near 201 Kothe Way, Nashville, Davidson County, Tennessee 37013 (the "Weatherly Ridge Project"). Pedcor Investments-2025-CCXVI, L.P. will be the owner and operator of the Weatherly Ridge Project to be financed with the proceeds of the Weatherly Ridge Bonds.
5. Authorizing all documents and matters necessary or desirable in connection with a plan of financing of the issuance of one or more series of tax exempt revenue bonds or other tax-exempt debt over the longest period permitted by law in an aggregate principal amount not to exceed $1,150,000,000 (the "VUMC Tax-Exempt Obligations") for the benefit of Vanderbilt University Medical Center ("VUMC"), a Tennessee nonprofit corporation and an organization described in Section 501(c)(3) of the hereinafter defined Code. The VUMC Tax-Exempt Obligations will be issued as qualified 501(c)(3) bonds pursuant to Section 145 of the Internal Revenue Code of 1986, as amended (the "Code"), to provide funds to make one or more loans to VUMC and/or any tax-exempt affiliate thereof that is a related party to VUMC (collectively, the "VUMC Borrower"), the proceeds of which, together with other available funds, are to be used to (1) finance, refinance or reimburse the VUMC Borrower, or refund or refinance taxable bonds or obligations, including, but not limited to, the Board's Taxable Revenue Bonds (Vanderbilt University Medical Center), Series 2026A (the "2026A VUMC Taxable Obligations"), the proceeds of which were used to finance the costs of acquiring the facilities, machinery, equipment or other property suitable for use by Tennova Healthcare – Clarksville (the "Hospital"), a 270 bed facility and related facilities and physician practices used in an integrated operation with the Hospital as described below (collectively, the "VUMC Acquisition Projects"), (2) finance or reimburse VUMC for, the cost of the construction, renovation, remodeling and equipping of capital projects for VUMC, including, but not limited to, the construction, renovation and expansion of hospital facilities, the renovation of the construction of a bed tower consisting of 180 adult inpatient beds and 10 operating rooms, renovation of approximately 44,000 square feet of three floors of the Crystal Terrace office building, and the renovation of catherization and electrophysiology labs (collectively, the "2026 VUMC Projects" and, together with the VUMC Acquisition Project, the "VUMC Projects"), (3) refund all or a portion of the Board's Revenue Bonds (Vanderbilt University Medical Center) Series 2016A (the "2016 VUMC Tax-Exempt Obligations"), (4) pay a portion of the interest on the VUMC Tax-Exempt Obligations, if deemed necessary or advisable by VUMC, (5) fund one or more debt service reserve funds, if deemed necessary or advisable by VUMC, (6) provide working capital, if deemed necessary or advisable by VUMC, and (7) pay certain expenses incurred in connection with the issuance of the VUMC Tax-Exempt Obligations and the refunding of the 2026A VUMC Taxable Obligations and the 2016 VUMC Tax-Exempt Obligations. In addition, the Board will consider authorizing all documents and matters necessary or desirable in connection with the request of VUMC for approval of the issuance by the Board of one or more series of taxable revenue bonds over the longest period permitted by law in an aggregate principal amount not to exceed $250,000,000 (the "VUMC Taxable Obligations"). The VUMC Taxable Obligations will be issued to provide funds to make one or more loans to VUMC, the proceeds of which, together with other available funds, are to be used to (1) refund all or a portion of the outstanding the Board's Taxable Revenue Bonds (Vanderbilt University Medical Center) Series 2016B (the "2016 VUMC Taxable Obligations" and, together with the 2016 VUMC Tax-Exempt Obligations, the "2016 VUMC Obligations"), (2) refund a portion of the 2016 VUMC Tax-Exempt Obligations, (3) fund a portion of working capital, if deemed necessary or desirable by VUMC and (4) pay certain expenses incurred in connection with the issuance of the VUMC Taxable Obligations and/or the VUMC Tax-Exempt Obligations. All of the VUMC Acquisition Projects are or will be owned and principally used by the VUMC Borrower and will be located outside of Davidson County, Tennessee (i) in an amount not to exceed $650,000,000 at 651 Dunlop Ln, Clarksville, Montgomery County, Tennessee, and at the following integrated and related facilities and properties: 1325 N Hwy. 76; 647 Dunlop Ln, MOB 1, Suites 108, 201, 203, 206, 209 and 210; 2485 Tiny Town Rd, Ste 100; 1810 Madison Street, Ste B; 273 Dover Road, Suites 267 and 273; 375 Alfred Thun Road; the vacant lot adjacent to 1325 N Hwy. 76 identified as Parcel 063 04806 00011063; and the vacant lot on Trenton Road, identified as Parcel 041 03913 0000604l, located south of Highway 374 and north of Sequoia Lane, all in Clarksville, Montgomery County, Tennessee, (ii) in an amount not to exceed $4,000,000 at 133 Dr. Robert H. Lee Drive, Dover, Stewart County, Tennessee 37058 and (iii) in an amount not to exceed $2,000,000 at 166 Centre Street, Pleasant View, Cheatham County, Tennessee 37146. All of the 2026 VUMC Projects are or will be owned or principally used by the VUMC Borrower and (i) in an amount not to exceed $150,000,000 on the VUMC main campus (the "VUMC Campus") in Nashville, Davidson County, Tennessee, which includes substantially all the property within the following boundaries: starting at the corner of 20th Avenue South and West End Avenue, proceeding southeast to Broadway, then south to 21st Avenue South, then south again to Scarritt Place, then east to 19th Avenue South, then north to Grand Avenue, then east to 17th Avenue South, then south to Horton Avenue, then west to 18th Avenue South, then south to Capers Avenue, and then west to the corner of 21st Avenue South and Capers Avenue, then south on 21st Avenue South to Belcourt Avenue, then west to 24th Avenue South (including property on the south side of Belcourt Avenue), then north to Blakemore Avenue, then west along Blakemore Avenue and 31st Avenue South to Vanderbilt Place, then northeast to 29th Avenue South, then northwest to West End Avenue, then northeast to the corner of 20th Avenue South and West End Avenue, the point of beginning, and (ii) in an amount not to exceed $50,000,000 at 3319 West End Avenue, Nashville, Davidson County, Tennessee. The proceeds of the 2016 VUMC Tax-Exempt Obligations were used, together with other available funds, to (1) refinance and/or refund (A) a portion of the Board's outstanding Revenue Refunding Bonds, 2008 Series A, The Vanderbilt University, (B) all of the Board's outstanding Revenue Refunding Bonds, 2008 Series B, The Vanderbilt University, (C) a portion of the Board's outstanding Revenue Bonds (The Vanderbilt University), Series 2009A, (D) all of the Board's outstanding Revenue Bonds (The Vanderbilt University), Series 2009B, (E) all of the Board's outstanding Revenue Refunding Bonds (The Vanderbilt University), Series 2012E, and (F) all of the Board's outstanding Tax-Exempt Commercial Paper Notes, The Vanderbilt University Issue, (G) refinance a portion of the University's outstanding Taxable Commercial Paper Notes, Series C (collectively, the "Prior VUMC Obligations"), (2) finance or refinance the acquisition of certain assets from The Vanderbilt University (the "University"), a Tennessee nonprofit corporation, comprising VUMC's academic medical center, including, but not limited to, hospital facilities, research buildings, facilities used for professional education programs, administrative offices, medical office buildings, parking structures, and other clinical and healthcare service facilities (the "Prior VUMC Acquisition Projects"), (3) finance and/or refinance the construction, renovation, remodeling and equipping of capital projects for VUMC's academic medical center, including, but not limited to, hospital facilities, research buildings, facilities used for professional education programs, administrative offices, medical office buildings, parking structures, and other clinical and healthcare service facilities (the "Prior VUMC Additional Projects"), and (4) pay certain expenses incurred in connection with the issuance of the 2016 VUMC Tax-Exempt Obligations and the refunding and refinancing of the Prior VUMC Obligations. The proceeds of the Prior VUMC Obligations were used to finance or refinance a variety of capital projects for the VUMC medical center (collectively, the "Prior VUMC Projects" and, together with the Prior VUMC Acquisition Projects and the Prior VUMC Additional Projects, the "2016 VUMC Projects"). All of the 2016 VUMC Projects are owned, operated or managed by VUMC and/or the VUMC Borrower and, except as described below, the 2016 VUMC Projects are located on the VUMC Campus. The following 2016 VUMC Projects are not located on the VUMC Campus: (1) Vanderbilt Health at One Hundred Oaks located in a facility leased by the University on a 57-acre site bounded on the north by Thompson Lane and on the west by Powell Avenue in Nashville, Davidson County, Tennessee; and (2) an office building located at 3319 West End Avenue, Nashville, Davidson County, Tennessee. The proceeds of the 2016 VUMC Taxable Obligations were used to (1) refinance all or a portion of outstanding bonds, notes or other obligations issued by the Board or the University, the proceeds of which were used to finance or refinance a variety of capital projects for the University's educational research and clinical programs, (2) finance the acquisition by VUMC of certain assets of the medical center from the University not financed or refinanced with certain 2016 VUMC Tax-Exempt Obligations, and (3) pay certain expenses incurred in connection with the issuance of the 2016 VUMC Taxable Obligations and/or the 2016 VUMC Tax-Exempt Obligations.
Public hearings (pursuant to Section 147(f) of the Internal Revenue Code of 1986, as amended) will be held at the above scheduled meeting by the Board in connection with (i) the issuance of the Fallbrook Bonds and the location and nature of the Fallbrook Project, (ii) the issuance of the Skyline Ridge Bonds and the location and nature of the Skyline Ridge Project, (iii) the issuance of the Weatherly Ridge Bonds and the location and nature of the Weatherly Ridge Project, and (iv) the issuance of the VUMC Tax-Exempt Obligations and the location and nature of the VUMC Projects. At such public hearings there will be an opportunity for persons to express their views concerning the foregoing. Anyone may speak at such public hearings or submit written comments to be considered thereat. Persons wishing to participate should submit a written request to speak to Cynthia M. Barnett, counsel to the Board, at the below address at least 24 hours prior to the public hearings.
Additional information concerning the above may be obtained from, and written comments should be addressed to, Ms. Cynthia M. Barnett, Adams and Reese LLP, 1600 West End Avenue, Suite 1400, Nashville, Tennessee 37203, email cindy.barnett@arlaw.com, telephone number (615) 259-1454.
If any accommodations are needed for individuals with disabilities who wish to be present at this meeting, please request the accommodation through hubNashville at https://nashville.gov/hub-ADA-boards or by calling (615)862-5000. Requests should be made as soon as possible, but 72 hours prior to the scheduled meeting is recommended.
Becky Sharpe, Chair
Publication Dates
LOKR0458434