Notice of Public Hearing to be held on May 18, 2022
NOTICE IS HEREBY GIVEN that a public hearing will be conducted by the Rhode Island Health and Educational Building Corporation (the “Corporation”) on Wednesday, May 18, 2022, at 10:30 a.m. via telephonic conference. In accordance with IRS Revenue Procedure 2022-20, providing guidance for the holding of toll-free teleconference public hearings in conformance with the requirements of Section 147(f) of the Internal Revenue Code of 1986, as amended (the “Code”), the public hearing will be held 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 Brown University, a Rhode Island nonprofit corporation (the “Institution”), that the Corporation issue its Higher Education Facilities Revenue Bonds, Brown University Issue, which will be qualified 501(c)(3) bonds, in a maximum aggregate principal amount not to exceed $100,000,000 (the “Bonds”).
The proceeds of the Bonds will be loaned to the Institution to provide moneys for the purpose of financing certain higher educational facilities owned and operated by the Institution for educational purposes and used in a single, integrated operation of the Institution, which are located in Providence, Rhode Island at or to be located at (i) the Institution’s “College Hill Campus” (which comprises buildings and facilities contained in or adjoining the area beginning at the corner of Lloyd Avenue and Hope Street, continuing south on Hope Street, west on Bowen Street, south on Prospect Street, west on Meeting Street, south on Benefit Street, west on College Street, south on South Main Street, east on Power Street, north on Cooke Street, west on Benevolent Street, north on Hope Street to Angell Street, east on Angell Street to Arlington Avenue, north on Arlington Avenue to Lloyd Avenue, and west on Lloyd Avenue to Hope Street the place of beginning), or adjacent and proximate sites; (ii) the Institution’s “Jewelry District Locations” (which consist of the Institution’s buildings located in the Jewelry District in the City of Providence primarily bounded by Ship Street, Elbow Street, Chestnut Street and South Street, with additional property owned located at 200 Dyer Street, 104 South Water Street, 155 South Main Street and leased properties at 350 Eddy Street and 225 Dyer Street) or adjacent or proximate sites; and (iii) 121 South Main Street. The projects expected to be financed include, but are not limited to, (a) the construction, furnishing and equipping of the Brook Street Residence Hall, a 125,000 square foot facility to be located proximate to the College Hill Campus at 250 and 259 Brook Street, which is expected to include approximately 353 student beds and study space; (b) the construction, furnishing and equipping of the Churchill House, a 24,000 square foot facility located on the College Hill Campus at 155 Angell Street, that includes space for the Institution’s Department of Africana Studies and Rites and Reasons Theatre; and (c) the renovation, furnishing and equipping of the Lincoln Field Building, a 18,500 square foot facility located at Simmons Quadrangle on the College Hill Campus, that includes space for the Institution’s Department of Earth, Environmental and Planetary Sciences.
The owner and/or operator of the projects and facilities to be financed with the proceeds of the Bonds will be the Institution. 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.
Persons interested 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 and facilities to be financed therewith by using the following toll-free number and passcode:
Dial-in: (866) 528-2256 (toll free)
Participant Code: 5962298
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.
Kimberly W. Mooers
Executive Director and Hearing Officer Rhode Island Health