Board Meetings

Upcoming Meetings

• December 9, 2025

  The Minnesota Health and Education Facilities Authority will hold a special meeting of the Authority Board on Tuesday, December 9, 2025 at 10:00 am to discuss its upcoming financing with Target Holdings. This meeting is open to the public, and may be attended in-person at the Authority's office at 860 Blue Gentian Road, Suite 145, Eagan, MN 55121. The meeting is also available online at https://meeting.gomeet.com/787-387-718 (use Google Chrome for best performance) or by telephone at 1-877-978-6969, using PIN: 787-387-718#

• December 17, 2025

• January 21, 2026

• February 18, 2026

• March 18, 2026

• April 15, 2026

• May 20, 2026

• June 17, 2026

• December 1, 2025

  The Minnesota Health and Education Facilities Authority will hold an emergency meeting of the Authority Board on Monday, December 1, 2025 at 10:00 am to discuss its upcoming financing with Target Holdings. This meeting is open to the public, and may be attended in-person at the Authority's office at 860 Blue Gentian Road, Suite 145, Eagan, MN 55121. The meeting is also available online at https://meeting.gomeet.com/581-019-185 (use Google Chrome for best performance) or by telephone at 1-877-978-6969, using PIN: 581-019-185#

• November 19, 2025

  MINNESOTA HEALTH AND EDUCATION FACILITIES AUTHORITY Notice of Public Hearing on Revenue Obligations on Behalf of Target Holdings of Minnesota, LLC NOTICE IS HEREBY GIVEN that a public hearing will be held by the Minnesota Health and Education Facilities Authority (the “Authority”) with respect to the proposal to issue revenue bonds or other obligations on behalf of Target Holdings of Minnesota, LLC (the “Borrower”), whose sole member is Target Housing and Community Services Corporation, a California nonprofit public benefit corporation and an organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (“the Code”) in the lower level Conference Room of the Authority’s offices at 860 Blue Gentian Road, Suite 145, Eagan, Minnesota on Wednesday, November 19, 2025, at 2:00 p.m. Under the proposal, the Authority would issue its revenue bonds or other obligations, in one or more series, whether taxable or tax exempt, in a maximum aggregate original principal amount not to exceed $130,000,000 (the “Obligations”) to finance the costs to acquire the following facilities: (1) up to $20,000,000 for assisted living facilities located at 8500 Regent Avenue North, Brooklyn Park, Hennepin County, Minnesota 55443, owned by Coventry Properties of Brooklyn Park, LLC and operated by Suite Living Senior Care of Brooklyn Park, LLC; (2) up to $20,000,000 for assisted living facilities located at 1880 East 134th Street East, Burnsville, Dakota County, Minnesota 55337 owned by Coventry Properties of Burnsville, LLC, and operated by Suite Living Senior Care of Burnsville, LLC; (3) up to $20,000,000 for assisted living facilities located at 3501 Douglas Drive North, Crystal, Minnesota 55422 owned by Coventry Properties of Crystal, LLC and operated by Suite Living Senior Care of Crystal, LLC; (4) up to $20,000,000 for assisted living facilities located at 20949 Keokuk Avenue, Lakeville, Minnesota 55044 owned by Coventry Properties of Lakeville, LLC and operated by Suite Living Senior Care of Lakeville, LLC; (5) up to $20,000,000 for assisted living facilities located at 7010 Alvarado Ln. N., Maple Grove, Hennepin County, Minnesota 55311 owned by Coventry Properties of Maple Grove, LLC and operated by Suite Living Senior Care of Maple Grove, LLC; (6) up to $20,000,000 for assisted living facilities located at 7007 139th Ln., Ramsey, Anoka County, Minnesota 55303 owned by Coventry Properties of Ramsey, LLC and operated by Suite Living Senior Care of Ramsey, LLC; and (7) up to $20,000,000 for assisted living facilities located at 938 S. Robert St., West Saint Paul, Dakota County, Minnesota 55118 owned by Coventry Properties of West, LLC and operated by Suite Living Senior Care of West St. Paul, LLC. (together, the “Projects”). The sole member of each of the entities listed in (1) through (7) above will be the Borrower at the time of closing of the acquisition of such facilities. The Obligations will all be issued under Minnesota Statutes, Sections, 15D.01 through 15D.18, and will be “qualified 501(c)(3) bonds” under the Internal Revenue Code of 1986 (the “Code”). The Obligations and the interest thereon will be limited obligations of the Authority. The Obligations and the interest thereon will be payable solely from the revenue pledged to the payment thereof and other forms of security to be provided by or on behalf of the Company. Notwithstanding the foregoing, no holders of any of the Obligations will ever have the right to compel any exercise of the taxing powers of the State of Minnesota or any political subdivision thereof to pay the Obligations or the interest thereon or to enforce payment against any property of the State of Minnesota or any political subdivision thereof. Members of the public may also attend by telephone or other electronic means in accordance with Minnesota Statutes, Section 13D.015. Members of the public may attend the hearing in person in the lower level Conference Room of the Authority’s offices at 860 Blue Gentian Road, Eagan, Minnesota, or by telephone by calling toll-free 1-877-978-6969; Access Code 278-219-442# or by video at https://www.gomeet.com/278-219-442 (requires Google Chrome for best performance). Some members of the Authority may participate by telephone or other remote means. Written comments may be sent by regular mail to the attention of the Operations Manager at the offices of the Authority at 860 Blue Gentian Road, Suite 145, Eagan, Minnesota 55121, emailed to [email protected], or sent by facsimile to (651) 297-5751. Anyone requiring an accommodation consistent with the Americans with Disabilities Act should contact the Authority at (651) 296-4690 at least 48 hours in advance of the hearing to arrange for any necessary accommodations. For additional information on such public hearing, see the Notice of Public Hearing – Target Holdings of Minnesota, LLC, on the Authority’s website: mnhefa.org – Recent News. By Order of the Minnesota Health and Education Facilities Authority Barry W. Fick, Executive Director
  Agenda

• October 15, 2025

  MINNESOTA HEALTH AND EDUCATION FACILITIES AUTHORITY Notice of Public Hearing on Revenue Obligations on Behalf of Concordia University, St. Paul NOTICE IS HEREBY GIVEN that a public hearing will be held by the Minnesota Health and Education Facilities Authority (the “Authority”) with respect to the proposal to issue revenue bonds or other obligations on behalf of Concordia University, St. Paul, a Minnesota nonprofit corporation (the “University”), as owner and operator of the Concordia University, St. Paul, an institution of higher education, in the lower level Conference Room of the Authority’s offices at 860 Blue Gentian Road, Suite 145, Eagan, Minnesota on Wednesday, October 15, 2025, at 2:00 p.m. Under the proposal, the Authority would issue its revenue bonds or other obligations in an aggregate original principal amount of approximately $10,750,000 to (i) refund, on a current refunding basis, the outstanding principal of the Authority’s $18,155,000 Variable Rate Demand Revenue Bonds, Series Six-Q (Concordia University, St. Paul) (the “Series Six-Q Bonds”) plus interest thereon to the redemption date (the “Refunding”), originally issued to finance the acquisition, construction, furnishing and equipping of a student residence facility consisting of a four-story building containing approximately 102,500 square feet with approximately 86 units and approximately 300 beds (including resident manager and resident advisors’ units), including appurtenant demolition of existing structures and site improvements, and (ii) pay costs of issuance related to the Refunding. The proposed revenue obligations will be qualified 501(c)(3) bonds as defined in Section 145 of the Code. The facility and improvements previously financed by the Series Six-Q Bonds are owned and operated by the University and are located on the University’s main campus, the principal street address of which is 275 Syndicate Street North, St. Paul, Minnesota. Members of the public may also attend by telephone or other electronic means in accordance with Minnesota Statutes, Section 13D.015. Members of the public may attend the hearing in person in the lower level Conference Room of the Authority’s offices at 860 Blue Gentian Road, Eagan, Minnesota, or by telephone by calling toll-free 1-877-978-6969; Access Code 971-014-093# or by video at https://www.gomeet.com/971-014-093 (requires Google Chrome for best performance). Some members of the Authority may participate by telephone or other remote means. Written comments may be sent by regular mail to the attention of the Operations Manager at the offices of the Authority at 860 Blue Gentian Road, Suite 145, Eagan, Minnesota 55121, emailed to [email protected], or sent by facsimile to (651) 297-5751. Anyone requiring an accommodation consistent with the Americans with Disabilities Act should contact the Authority at (651) 296-4690 at least 48 hours in advance of the hearing to arrange for any necessary accommodations. For additional information on such public hearing, see the Notice of Public Hearing – Concordia University, on the Authority’s website: mnhefa.org – Recent News. By Order of the Minnesota Health and Education Facilities Authority Barry W. Fick, Executive Director
  Minutes Agenda

• September 17, 2025

  This meeting has been canceled.

• August 20, 2025

  This meeting has been canceled.

• July 16, 2025

  Minnesota Health and Education Facilities Authority NOTICE OF PUBLIC HEARING ON ISSUANCE OF REVENUE OBLIGATIONS NOTICE IS HEREBY GIVEN that a public hearing will be held by the Minnesota Health and Education Facilities Authority (the “Authority”) with respect to a proposal to issue revenue bonds or other obligations on behalf of St. Olaf College (the “College”), a Minnesota nonprofit corporation, as owner and operator of St. Olaf College (the “Institution”), on July 16, 2025, at 2:00 p.m., at the Authority’s office, 860 Blue Gentian Road, Suite 145, Eagan, Minnesota. Under the proposal, the Authority would issue its revenue bonds or other obligations in an original principal amount of up to approximately $32,000,000 (the “Obligations”) to refund, on a current refunding basis, the outstanding principal of the Authority’s Series Eight-G Bonds, which include those maturing on and after December 1, 2025 (the “Refunding”) plus interest thereon, to be paid and redeemed in full on December 1, 2025, and pay costs of issue related to the refunding. The proceeds of the Series Eight-G Bonds were used to finance: (i) the refunding of a portion of the outstanding principal of the Authority’s Revenue Bonds, Series Six-O (St. Olaf College), originally issued to finance the acquisition, construction, improvement and equipping of a new Science Building, (ii) the refunding of the Authority’s Variable Rate Demand Revenue Bonds, Series Five-M2 (St. Olaf College) (the “Series Five-M2 Bonds”), originally issued to refinance the City of Northfield, Minnesota, College Facility Revenue Bonds, Series 1992 (St. Olaf College Project), the proceeds of which (A) refunded the City of Northfield, Minnesota, College Facility Revenue Bonds, Series 1988 (St. Olaf College Project), which financed Ytterboe Hall and related equipment, and (B) financed repairs, renovations and improvements to Rand and Thorson Residence Halls, and expansions of the Institution’s water system and parking facilities, (iii) the termination of an interest rate swap agreement relating to the Series Five-M2 Bonds, (iv) various construction and renovation projects to the Institution’s residential facilities and classroom buildings on its main campus, including renovation of Kittelsby Hall, Kildahl Hall, Larson Hall and Mohn Hall, acquisition of residence hall furnishings, fixtures and equipment, construction of a new connection between the Dittman Center and the Hall of Music, and renovation of Holland Hall, and (v) certain costs of issuance of the Series Eight-G Bonds. All the facilities and improvements previously financed or refinanced by the Series Eight-G Bonds are be owned and operated by the College and are located on the Institution’s main campus, the principal street address of which is 1520 St. Olaf Avenue, Northfield, Minnesota, and the boundaries of which are 330th St. W. and Greenvale Ave. W. on the north, Lincoln St. N. on the east, Colvill Memorial Highway on the south, and Eaves Avenue on the west. Members of the public may attend the hearing in person at the Authority’s offices or by telephone or other electronic means, in accordance with Minnesota Statutes, Section 13D.015, by calling toll-free 1-877-978-6969; Access Code 368-706-737# or by video at https://www.gomeet.com/368-706-737 (requires Google Chrome for best performance). Some members of the Authority may participate by telephone or other remote means. Written comments may be sent by regular mail to the attention of the Operations Manager at the offices of the Authority at 860 Blue Gentian Road, Suite 145, Eagan, Minnesota 55121, emailed to [email protected], or sent by facsimile to (651) 297-5751. Anyone requiring an accommodation consistent with the Americans with Disabilities Act should contact the Authority at (651) 296-4690 at least 48 hours in advance of the hearing to arrange for any necessary accommodations. For additional information on such public hearing, see the Notice of Public Hearing – St. Olaf College, on the Authority’s website: mnhefa.org – Recent News. At said time and place the Authority shall give all parties who appear or have submitted written comments an opportunity to express their views with respect to the proposal to undertake and finance the Refunding. Dated: June 27, 2025 By Order of the Minnesota Health and Education Facilities Authority Barry W. Fick Executive Director
  Minutes Agenda

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