Notice of Public Hearing to be Held on December 16, 2024
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 Monday, December 16, 2024 at 10:00 a.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 is to consider the proposal of CharterCARE Health of Rhode Island, Inc., a Rhode Island nonprofit corporation (the “Institution”), that the Corporation issue its Health Care Facilities Revenue Bonds, CharterCARE Health of Rhode Island Issue, Series 2025, in a maximum aggregate face amount not to exceed $230,000,000, pursuant to a plan of financing, in one or more series or sub-series of bonds (the “Bonds”), for some or all of the following purposes:
(1) acquiring and improving the real property, acute care hospital facilities, and medical office space comprising and currently known as:
(A) Roger Williams Medical Center (“RWMC”), located at 825 Chalkstone Avenue, Providence, in the general area bounded by Chalkstone Avenue, Garfield Avene, Pleasant Valley Parkway, Winrooth Avenue, and Parkway Avenue, with associated operations located at 877 Chalkstone Avenue, Providence; 895 Chalkstone Avenue, Providence; 65 Winrooth Avenue, Providence; and 50 Maude Street, Unit A, Providence; 864 Admiral Street, Providence; and 872 Admiral Street, Providence all currently owned and operated by Prospect CharterCARE RWMC, LLC, which may include financing additional RWMC improvements, which may include electrical design and equipment, fire alarm design, installations and upgrades at the main RWMC building, repair of outside air dampers on diagnostic wing air handling units (AHUs), signage, including wayfinding and exterior signage upgrades, parking lot paving, retaining wall maintenance, replacements or repairs and lighting at the Rosebank parking lot, AHU-1-3 and Cancer Center heat controller replacement, BAC cooling tower replacement, relocation of blood bank, piping for operating room temperature chiller tie-in, and replacement of operating room chiller and roof; exterior building envelope maintenance and repairs at 50 Maude Street and 877 Chalkstone Avenue; walkway maintenance, replacements or repairs at 877 Chalkstone Avenue; oil tank repair or replacement at 50 Maude Street; and center roof replacement, condensate return pump, AHU equipment replacement, MRI acquisition and associated construction, nurse call upgrades, elevator work, kitchen air duct roof railing, vinyl slide, roof and window replacements of the Red House exterior at 65 Winrooth Avenue; and
(B) Our Lady of Fatima Hospital (“OLF,” and together with RWMC, the “Existing Hospitals”), located at 200 High Service Avenue, North Providence, in the general area bounded by High Service Avenue, Fisher Street, Fruit Hill Avenue and Superior View Boulevard, with associated operations located at 214 High Service Avenue, Providence, all currently owned and operated by Prospect CharterCARE SJHSRI, LLC (“SJHSRI”), which includes or may include financing additional OLF improvements, which may include a cafeteria wheelchair lift, loading dock repairs, acquisition and installation of interior sprinkler system upgrades, acquisition and installation of automated transfer switching and replacement of three Liebert Units at Marion Hall, acquisition and installation of a high voltage substation 5,000 volt breaker upgrade, acquisition and installation of a chiller MRI R-22 unit, three compressors for pneumatic control, a domestic water pumping station/second main water feed, MRI cosmetic upgrades for a new magnet, acquisition and installation of replacement windows in 3 South and 3 Center, signage, including wayfinding and exterior signage upgrades, parking lot lighting upgrades and paving, emergency department rooftop unit fan replacements, nurse call upgrades, replacement of 5 South roof, direct digital control and advance energy management controls, domestic hot water system upgrades, domestic water pump and water tower repairs, Pavilion heat exchange replacement, AHU replacements, replacement of Boiler B-2, replacement of the city water valve in the main mechanical room and window replacements in the connecting corridor between the computed radiography department and the emergency department;
(2) acquiring health care-related assets at the leased facilities located at 1180 Hope Street, Bristol; 1090 Cranston Street, Cranston; 1681 Cranston Street, Cranston; 191 MacArthur Boulevard, Coventry; 725 Reservoir Avenue, Cranston; 1351 South County Trail, East Greenwich; 400 Massasoit Avenue, East Providence; 525 Taunton Avenue, East Providence; 501 Wampanoag Trail, East Providence; 387 Waterman Avenue, East Providence;1524 Atwood Avenue, Johnston; 1526 Atwood Avenue, Johnston; 1539 Atwood Avenue, Johnston; 1301 Atwood Avenue, Johnston; 6 Blackstone Valley Place, Lincoln; 2 Wake Robbin Road, Lincoln; 1637 Mineral Spring Avenue, North Providence; 1352 Smith Street, North Providence; 74-84 Pascoag Main Street, Pascoag; 655 Broad Street, Providence; 50 Maude Street, Unit B, Providence; 1070 North Main Street, Providence; 1 Randall Square, Providence; 38 Rankin Avenue, Providence; 1515 Smith Street, Providence; 41 Sanderson Road, Smithfield; 100 Kenyon Avenue, Wakefield; 851 Main Street, Warren; 226 Buttonwoods Avenue, Warwick; 869 Post Road, Warwick; and 215 Tollgate Road, Warwick; to be owned and operated by the Institution and its affiliates;
(3) funding debt service reserve funds, if any;
(4) funding capitalized interest on the Bonds;
(5) funding other working capital associated with the Institution’s acquisition of the Existing Hospitals; and
(6) paying certain costs of issuance and other common costs with respect to the Bonds.
All of the foregoing assets and facilities at the above-referenced locations listed above will be owned and operated by the Institution or its affiliates in an integrated operation to provide medical services to the populations served by the Existing Hospitals within the State of Rhode Island.
Neither the State of Rhode Island nor the Corporation is obligated to pay the principal or redemption price of or interest or premium on the Bonds, and neither the faith and credit nor the taxing power of the State of Rhode Island or of 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 locations and nature of the Existing Hospitals to be financed 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: 859 4276 9631
Participant Code: 376453
Those requesting interpretative service for the hearing impaired must notify the Corporation at (401) 831-3770 forty-eight (48) hours in advance of this meeting.
Dylan Zelazo
Executive Director
Rhode Island Health and Educational Building Corporation