NOTICE OF PUBLIC HEARING ON PROPOSED ISSUANCE OF BONDS

NOTICE OF PUBLIC HEARING ON PROPOSED ISSUANCE OF BONDS ___________________ NOTICE IS HEREBY GIVEN that a public hearing pursuant to Section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code"), will be held by the Westchester County Local Development Corporation (the "Issuer") on November 12, 2025, at 12:00 p.m., local time, at 148 Martine Avenue, Conference Room A, 9th Floor, White Plains, New York 10601, in connection with the following matter: QSH/TARRYTOWN, LLC, a New York limited liability company, the sole member of which is Quality Senior Housing Foundation, Inc. (the "Foundation"), a Georgia not-for-profit corporation and an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the "Code"), which is exempt from federal income taxation pursuant to Section 501(a) of the Code, and/or a special purpose entity formed or to be formed by or on its behalf or controlled by it, the sole member of which will be the Foundation (the "Institution"), has presented an application (the "Application") to the Issuer, which Application requested that the Issuer issue, in one or more series or subseries, as part of a plan of finance, its tax-exempt and/or taxable revenue bonds, in the maximum stated principal amount not to exceed $125,000,000 (the "Bonds") for the purpose of paying the costs associated with a certain project (the "Project"), for the benefit of the Institution, to consist of the following: (A) the acquisition of the land, including, but not limited to, all easements, licenses, and other real property interests owned or controlled by the Institution where improvements benefitting the Project are situated, commonly known as 99 White Plains Road, Village of Tarrytown, New York (the "Land") and the 27,077 square foot existing historic home located on the Land (the "Existing Improvements"); (B) the construction, improving, maintaining and equipping on the Land of a state-of-the-art assisted living facility for seniors (ages 62 and older), including (i) approximately 87 residential rental units (consisting of approximately 56 assisted living units and approximately 31 memory care units), four of which units will be provided at reduced rents to residents earning at or below 80% of area median income ("AMI") for Westchester County, as determined by the US Department of Housing and Urban Development, (ii) residential amenities for services including meal services, housekeeping, cable and internet, laundry and recreational and exercise facilities (clauses (i) and (ii) shall be referred to collectively as the "Improvements"), and (iii) the acquisition of and installation within the Improvements of certain items of machinery, fixtures, equipment and other items of tangible personal property (collectively, the "Equipment" and, together with the Land, the Existing Improvements and the Improvements, the "Facility"); (C) funding of a debt service reserve fund, if any, and paying capitalized interest, if any, and (D) paying certain other costs associated with the issuance of the Bonds (the costs associated with items (A), through (D) being hereinafter collectively referred to as the "Project Costs"). The Institution will be the owner of the Facility financed and/or refinanced by the Bonds. If the issuance of the Bonds is approved by the Issuer, (i) to the extent the Bonds are issued as tax-exempt obligations, it is intended that they will be issued as qualified 501(c)(3) bonds within the meaning of Section 145 of the Code, the interest on which will be excluded from gross income for Federal income tax purposes, pursuant to Section 103(a) of the Code, (ii) the proceeds of the Bonds will be loaned by the Issuer to the Institution pursuant to a loan or other similar agreement (the "Agreement") requiring that the Institution or its designee make payments equal to debt service on the Bonds and make certain other payments, and (iii) the Bonds will be special limited obligations of the Issuer payable solely from certain of the proceeds received pursuant to the Agreement and certain other assets of the Issuer pledged to the repayment of the Bonds. THE BONDS SHALL NOT BE A DEBT OF THE STATE OF NEW YORK NOR WESTCHESTER COUNTY, NEW YORK, AND NEITHER THE STATE OF NEW YORK NOR WESTCHESTER COUNTY, NEW YORK, SHALL BE LIABLE THEREON. The Issuer will hold the public hearing on the proposed issuance of the Bonds, as required by Section 147(f) of the Code. The subject of the hearing will be the nature and location of the Project and the issuance of the Bonds of the Issuer to provide financing. Interested persons are invited to attend and will have an opportunity to make a statement regarding the Project or the financing. Written comments and general inquiries may be directed to the Issuer at the address indicated below. Minutes of the public hearing will be made available to the County Executive of Westchester County (the "County Executive"). Approval of the issuance of the tax-exempt Bonds by the County Executive is necessary under Section 147(f) of the Code in order for the interest on the Bonds to be excluded from gross income for federal income tax purposes. Finally, the Issuer also encourages all interested parties to submit written comments to the Issuer, which will be included within the public hearing record. Any written comments may be sent to Westchester County Local Development Corporation, 148 Martine Avenue, White Plains, New York 10601, Attention: Assistant Secretary and/or via email to cqpq@westchestercountyny.gov, no later than November 11, 2025. Dated: October 30, 2025 WESTCHESTER COUNTY LOCAL DEVELOPMENT CORPORATION By: Corazon Pineda Title: Assistant Secretary November 4 2025 LNYS0400086