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 Tompkins County Development Corporation (the "Issuer") on Thursday, July 16, 2026 at 10:00 a.m., local time, in connection with the matter described below. As more fully set forth below, the public hearing will be held via toll-free telephone conference only. Ithaca College, a not-for-profit educational corporation organized and existing under the laws of the State of New York, and described under Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the "Code") with an office at 953 Danby Road, Ithaca, New York 14850 (the "College"), has requested that the Issuer issue its tax-exempt revenue refunding bonds, in one or more issues or series, as part of a plan of financing, in a maximum aggregate stated principal amount not to exceed $35,000,000 (the "Bonds") for the purpose of financing all or a portion of the cost of a certain project (the "Project") consisting of: (A) in a maximum aggregate stated principal amount not to exceed $20,000,000 to the refund the Tompkins County Development Corporation original aggregate principal amount $43,965,000 Tax-Exempt Revenue Refunding Bonds (Ithaca College Project), Series 2015 (the "Series 2015 Bonds"), the proceeds of which were used to refund: (1) the outstanding principal amount of the Tompkins County Industrial Development Agency Civic Facility Revenue Bonds (Ithaca College Project), Series 2007, originally issued on April 26, 2007 in the aggregate principal amount of $31,075,000 and reissued for federal income tax purposes on August 20, 2009 in the aggregate principal amount of $29,925,000 (the "Series 2007 Bonds") and (2) the outstanding principal amount of the Dormitory Authority of the State of New York Ithaca College Revenue Bonds, Series 2008, originally issued on May 29, 2008 in the aggregate principal amount of $38,505,000 and reissued for federal income tax purposes on September 17, 2009 in the aggregate principal $35,080,000 (the "Series 2008 Bonds"); (B) in a maximum aggregate stated principal amount not to exceed $15,000,000 to refund certain taxable loans in the original principal amount of $30,300,000, the proceeds of which were used by the College to acquire certain land located at 1031 Danby Road, Ithaca, New York 14850 and the approximately 350,267 square foot improvements located thereon, consisting of 22 apartment buildings, containing, in the aggregate, 850 beds (collectively, the "Circle Apartments"); (C) pay costs associated with the termination of one or more interest rate swap agreements or other hedging arrangements entered into in connection with prior obligations of the College, including, but not limited to, termination fees, breakage costs, or other amounts due upon the modification or termination of such arrangements and (D) the payment of all or a portion of the costs incidental to the issuance of the Bonds, including issuance costs of the Bonds, capitalized interest, if any, and funding any reserve funds as may be necessary to secure the Bonds. The Series 2007 Bonds were issued by the Tompkins County Industrial Development Agency for the purpose of financing the costs of: (A) (1) the construction and equipping of an administrative office building (the "Gateway Building Facility") located on the College's approximately 750-acre main campus located on Route 96B in Ithaca, New York (the "Campus"); (2) the completion of the construction and equipping of the College's School of Business building (the "School of Business Facility") and (3) the renovation, equipping and repair of certain existing Campus facilities (the "2007 Existing Facilities"; and, together with the Gateway Building Facility and the School of Business Facility, the "2007 Improvements"); (B) the acquisition and installation in and around the 2007 Improvements of certain items of machinery, equipment, fixtures and other tangible personal property (the "2007 Equipment" and together with the 2007 Improvements, the "2007 Facility"). The Series 2008 Bonds were issued by the Dormitory Authority of the State of New York ("DASNY") for the purpose of financing the costs of: (A) the construction renovation, equipping and repair of certain existing Campus facilities (the "2008 Improvements") and (B) the refunding of the portion of DASNY's then outstanding Ithaca College Insured Revenue Bonds, Series 1998 (the "Series 1998 Bonds"). The Series 1998 Bonds were issued for the purpose of financing the costs of: (A) the construction, renovation, equipping and repair of certain buildings located on the Campus (the "1998 Improvements") and (B) the refunding of DASNY's Ithaca College Insured Revenue Bonds, Series 1991 (the "Series 1991 Bonds"). The Series 1991 Bonds were issued to: (A) provide original financing for the construction of a new science building, various renovations on the Campus (the "1991 Improvements") and (B) to refund DASNY's Ithaca College Insured Revenue Bonds, Series 1984 (the "Series 1984 Bonds"). The Series 1984 Bonds were issued to: (A) provide original financing for the construction of a student union and dormitory facility (the "1984 Improvements") and (B) to refund DASNY's Ithaca College Note Issue, Series 1982 (the "Series 1982 Notes"). The Series 1982 Notes were issued to provide original financing for the construction of an academic facility to house the College's Schools of Allied Health and Business, the acquisition and installation of a telephone and computer system, the construction of a warehouse facility and the renovation of seven academic buildings on the Campus (the "1982 Improvements" and, together with the Campus, the Circle Apartments, the 2007 Facility, the 2008 Improvements, the 1998 Improvements, the 1991 Improvements, and the 1984 Improvements, the "Facility"). The Facility is and will be owned and/or operated by the College. If the issuance of the Bonds is approved by the Issuer: (i) it is intended that interest on such Bonds 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 College pursuant to a loan or other agreement (the "Agreement") requiring that the College make payments equal to debt service on the Bonds and make certain other payments, (iii) the Bonds will be special limited obligations of the Issuer payable solely from certain of the proceeds of the Agreement and certain other assets of the Issuer pledged to the repayment of the Bonds, and (iv) the Bonds will be issued as qualified 501(c)(3) Bonds under Section 145 of the Code. THE BONDS SHALL NOT BE A DEBT OF THE STATE OF NEW YORK OR TOMPKINS COUNTY, NEW YORK, AND NEITHER THE STATE OF NEW YORK NOR TOMPKINS COUNTY, NEW YORK, SHALL BE LIABLE THEREON. Minutes of the public hearing will be made available to the Tompkins County Legislature (the "Legislature"). Approval of the issuance of the Bonds by the Legislature is necessary in order for the interest on the Bonds to be excluded from gross income for federal income tax purposes. PLEASE NOTE SPECIAL PUBLIC HEARING CONDUCT INSTRUCTIONS AND INFORMATION: The Issuer will not accommodate any in-person public attendance or participation at this hearing. Nonetheless, in furtherance of federal regulations requiring interested individuals to have a reasonable opportunity to express their view at this hearing, and in accordance Internal Revenue Service Revenue Procedure 2022-20 allowing such hearing to continue if the Issuer is able to hold the public hearing remotely through use of telephone conference, the Issuer will provide all interested persons of the public the opportunity, at the time and on the date indicated above, to provide oral comments with respect to the Project and/or the issuance of the Bonds: Via telephone conference by calling into the following toll-free telephone number: 1-848-777-1212; Conference ID: 2026-4233 Via Zoom at: https://us06web.zoom.us/j/84648219027?pwd=auqnfbAGnDbSUbdNPugWxN7w6i3PnX.1; Meeting ID: 846 4821 9027; Passcode: 008153 Via YouTube at: https://tinyurl.com/weo3tkk Dated: July 9, 2026 TOMPKINS COUNTY DEVELOPMENT CORPORATION July 9 2026 LNYS0552102