NOTICE OF PUBLIC HEARING
WITH RESPECT TO
NOT TO EXCEED $135,000,000
SOUTH CAROLINA JOBS-ECONOMIC
DEVELOPMENT AUTHORITY
SENIOR LIVING FACILITIES REVENUE BONDS
(THE FOOTHILLS RETIREMENT COMMUNITY PROJECT)
NOTICE IS HEREBY GIVEN that, as required by Chapter 43 of Title 41 of the Code of Laws of South Carolina 1976, as amended, the South Carolina Jobs-Economic Development Authority ("Authority") will hold a public hearing ("Public Hearing") commencing at 11:00 AM, or as soon thereafter as may be heard following other public hearings, on October 2, 2025, and will be held telephonically by the Authority, regarding the issuance by the Authority of its Senior Living Facilities Revenue Bonds in one or more taxable and/or tax-exempt series in a maximum aggregate principal amount not to exceed $135,000,000 ("Bonds").
The Authority will loan the proceeds of the Bonds ("Loan") to Presbyterian Communities of South Carolina, a South Carolina nonprofit corporation and one or more of its affiliated or related entities (collectively, "Borrower"), to (i) finance a portion of the costs of the acquisition, construction, expansion, renovation and improvement (collectively, "Improvements") of its senior living community located in Pickens County, South Carolina and known as The Foothills Retirement Community ("Facility"), (ii) fund certain accounts and funds related to the construction of the Improvements and the issuance of the Bonds, including one or more debt service reserve funds and one or more capitalized interest accounts, and (iii) provide for the payment of certain fees and expenses to be incurred in connection with the issuance of the Bonds (collectively, (i), (ii) and (iii) are the "Project"), and the Authority wishes to induce the Borrower to undertake the Project.
The Improvements financed with proceeds of the Bonds will be located at 205 Bud Nalley Drive, Easley, South Carolina 29642 and will be owned and operated by the Borrower.
The Bonds, when issued, will be special, limited obligations of the Authority payable solely out of the revenues derived from the repayment of the Loan by the Borrower and certain funds and accounts established for the Bonds. The Bonds will not constitute a general obligation or indebtedness of the Authority, the State of South Carolina ("State") or any other governmental entity within the meaning of any State constitutional provisions (other than indebtedness payable only from a revenue-producing project or special source within the meaning of Article X, Section 13(9) of the Constitution of the State, 1895, as amended) or statutory limitation, nor give rise to a pecuniary liability of the Authority, the State or the County. The Bonds will not constitute a charge against the general credit of the Authority, the State or the County or the taxing powers of the State or the County. The Authority has no taxing powers.
The Public Hearing will be conducted telephonically. All persons who wish to present comments at the Public Hearing or listen to the Public Hearing may join by calling toll free at 1-888-547-5999 and using access code 960347. All persons who wish to present comments during the Public Hearing to express their views for or against the proposed issuance of the Bonds, the location and nature of the Facility, or the approval of the issuance of the Bonds must contact the Authority, not less than 24 hours prior to the Public Hearing, via email to cmiller@scjeda.com to inform the Authority of their desire to speak at the Public Hearing. Those who present comments during the Public Hearing will be permitted to address the Authority regarding the Project or the Bonds for no more than five minutes. Members of the public may also submit written comments to the Authority by mail to South Carolina Jobs-Economic Development Authority, 1201 Main Street, Suite 1600, Columbia, South Carolina 29201 or via email to cmiller@scjeda.com.
September 26 2025
LGSC0376886