Notice of Public Hearing to be Held on April 10, 2025

NOTICE OF PUBLIC HEARING

NOTICE IS HEREBY GIVEN that a public hearing will be conducted by the Rhode Island Health and Educational Building Corporation (the “Corporation”) on Thursday, April 10, 2025 at 2:00 p.m. via teleconference line in lieu of physical presence at the public hearing. Members of the public may use the dial-in information provided at the end of this notice to access the hearing.

The purpose of the public hearing will be to consider the proposal of Salve Regina University, a ‎Rhode Island nonprofit corporation (the “Institution”) that the Corporation issue qualified 501(c)(3) ‎bonds (as ‎defined in Section 145 of the Internal Revenue Code), in one or more series pursuant to a plan of finance, in a maximum aggregate principal amount not to ‎exceed $36,000,000 (the “Bonds”), to finance certain higher educational facilities ‎owned and operated or to be owned and operated by the Institution for educational purposes and located or to be located at the Institution’s campus, the main address of which is 100 Ochre Point Avenue, Newport, Rhode Island, including (A) the areas along one or both sides of Ward Avenue, Narragansett Avenue, Webster Street, Leroy Avenue, Shepard Avenue, Victoria Avenue, Ruggles Avenue, Bellevue Avenue, Marine Avenue, Ochre Point Avenue, and Lawrence Avenue, (B) additional properties located at 54-56 East Bowery Street, (C) all areas bounded by those listed in (A) and (B) (the “Campus”), or adjacent or proximate sites. ‎The new projects expected to be financed include, but are not limited to, (i) construction, furnishing and equipping of a new residence hall, (ii) construction, furnishing and equipping of a new student center pavilion, (iii) renovation, construction, furnishing and equipping of and accessibility and HVAC improvements to an existing administrative building, (iv) renovation, construction, furnishing, equipping and conversion of an existing administrative building into a residence hall, and (v) other miscellaneous capital improvements and equipment acquisition at the Campus over the next three fiscal years of the Institution. Proceeds of the Bonds may also be used to pay capitalized interest and costs of issuance of the Bonds.

Neither the State of Rhode Island nor the Corporation is obligated to pay the principal or redemption price of or interest on the Bonds and neither the faith and credit nor the taxing power of the State of Rhode Island or any municipality or political subdivision thereof is pledged to the payment of the Bonds. The Corporation does not have taxing power.

Interested members of the public are invited to participate in the hearing and to offer comments and ask questions with regard to the issuance of the above-referenced Bonds and the location and nature of the projects to be financed therewith by using the following toll-free call-in numbers and Meeting ID and Passcode:

833 548 0282 US Toll-free
877 853 5257 US Toll-free
888 475 4499 US Toll-free
833 548 0276 US Toll-free

Meeting ID: 822 3235 1761
Passcode: 930341

Those requesting interpretative service for the hearing impaired must notify the Corporation at (401) 831-3770 at least forty-eight (48) hours in advance of this meeting. 

Dylan Zelazo
Executive Director
Rhode Island Health and Educational Building Corporation