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 June 10, 2026, 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: RIPPOWAM CISQUA SCHOOL, INC., a New York 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 (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 revenue refunding bonds, in the maximum stated principal amount not to exceed $25,000,000 (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 refinancing of all or a portion of the Issuer's $25,000,000 Westchester County Local Development Corporation Tax-Exempt Revenue Bonds (Rippowam Cisqua School Project), Series 2016 (the "Series 2016 Bonds"), the proceeds of which were used for: (1) a new money project at the School's "Rippowam Campus" at 439 Cantitoe Street, Town of Bedford, Westchester County, New York (the "Rippowam Campus") consisting of (i) the reconstruction at the Rippowam Campus of a two-and-a-half story 28,000 square-foot educational wing consisting of dedicated science labs, a library/media center, a design innovation center including robotics equipment, and the main nurse and security offices as well as student common and circulation spaces; (ii) the renovation and reconstruction of approximately 9,000 square feet of area dedicated to 7th and 8th grade classrooms, dining hall and associated kitchen and serving areas, and multi-purpose seminar rooms; (iii) the renovation of existing classrooms and labs to meet the needs of 21st century education, including the acquisition and installation of computer, library media and other technology improvements, energy-efficient lighting, and air conditioning, air quality, and other HVAC improvements; (iv) the development of an approximately 6,000 square-foot outdoor amphitheater student learning space; and (v) vehicular and pedestrian hardscape improvements to the School for health and safety including driveway access and separation for cars/buses/delivery trucks, bus/car drop-off/pick-up, and sidewalks/signage for safety ((i) through (v) hereinabove being collectively, the "2016 Improvements"); and (vi) the acquisition and installation in and around the Improvements of certain items of machinery, equipment and other tangible personal property (the "2016 Equipment", and together with the Improvements, the "2016 Facility"); (2) the refinancing of a certain existing loan made to the School by JPMorgan Chase, the current outstanding balance of which is approximately $6,000,000, and the proceeds of which were used to (i) retire the outstanding principal amount $6,365,000 County of Westchester Industrial Development Agency Civic Facility Revenue Bonds (The Rippowam-Cisqua School Project) Series 1999 (the "Series 1999 Bonds"), the proceeds of which were used to finance a portion of the costs of (i) the partial reconstruction, renovation and expansion of a theatre and construction of a music facility with two faculty apartments at the Rippowam Campus involving approximately 9,000 square feet of space in the aggregate, (ii) the demolition of an existing classroom facility and the construction and equipping of approximately 14,000 square feet of space for a new classroom facility, a multi-purpose facility and a new boiler facility at 325 West Patent Road, Mount Kisco, Westchester County, New York (the "Cisqua Campus"), (iii) the funding of a debt service reserve fund, and (iv) paying certain costs of issuance in connection with the Series 1999 Bonds (the "1999 Facility"); and (ii) purchase a certain property at 20 Clinton Hills, Town of Bedford, Westchester County, New York that was reconstructed into additional football, soccer and track athletic playing fields for the School (the "Refinanced Facilities"; and, together with the 2016 Facility and the 1999 Facility, the "Facility"); and (3) paying of costs incidental to the issuance of the Bonds, including issuance costs of the Bonds and any reserve funds as may be necessary to secure the Bonds, as well as capitalized interest on the Bonds; and (B) funding of a debt service reserve fund, if any, and paying capitalized interest, if any; and (C) paying certain other costs associated with the issuance of the Bonds (the costs associated with items (A), through (C) being hereinafter collectively referred to as the "Project Costs"). The Institution will be the owner and operator 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 inquires 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, Attn: Assistant Secretary and/or via email to cqpq@westchestercountyny.gov, no later than June 9, 2026. Dated: June 1, 2026 WESTCHESTER COUNTY LOCAL DEVELOPMENT CORPORATION By: Corazon Pineda Title: Assistant Secretary Publication Dates LNYS0530196