April 13, 2022
MINNESOTA HIGHER EDUCATION FACILITIES AUTHORITY
NOTICE OF PUBLIC HEARING ON REVENUE OBLIGATIONS
CONDUCTED BY TELEPHONE OR OTHER ELECTRONIC MEANS
NOTICE IS HEREBY GIVEN that a public hearing will be held by the Executive Director of the Minnesota Higher Education Facilities Authority (the “Authority”) with respect to a proposal to issue revenue bonds or other obligations on behalf of the University of St. Thomas (the “University”), as owner and operator of University of St. Thomas, on April 20, 2022, at 1:00 p.m.
Under the proposal, the Authority would issue its tax-exempt or taxable revenue bonds or other obligations in one or more series (the “Obligations”) to finance a project (the “Project”) consisting of (a) the acquisition, design, demolition, construction, renovation, improvement, furnishing and equipping of various facilities, including (i) construction of a 5-level academic building for science, technology, engineering, arts and mathematics of approximately 129,600 square feet on the former site of Loras Hall which was demolished in 2021 for this purpose, to be known as the Schoenecker Center, to be used for classrooms, offices, laboratories, and related purposes, (ii) renovation of Brady Residence Hall and Dowling Residence Hall and Koch Commons connecting them, (iii) renovation of the Summit Classroom Building to provide start-up space for the University’s new nursing program, and (iv) acquisition of a single-family residence adjacent to the University’s Saint Paul campus ((the “Residential Property”); the foregoing activities described in clauses (i) through (iv), inclusive, collectively, the “Main Campus Projects”); and (b) proposed acquisition of an approximately 22-acre tract of land and preliminary design work for a University hockey arena, softball and baseball fields, and related athletic facilities, in the Highland Bridge redevelopment area in Saint Paul (the “Athletic Facilities Project”).
All the facilities and improvements to be financed by the Project are or will be owned and operated by the University and, except for the Residential Property and the Athletic Facilities Project, are or will be located on the University’s main campus, the principal street address of which is 2115 Summit Avenue, Saint Paul, Minnesota. As shown on the attached campus map, the University’s Saint Paul campus is bounded on the north by Selby Avenue and Summit Avenue, on the east by Cleveland Avenue South and Cretin Avenue South, on the south by Grand Avenue and Goodrich Avenue, and on the west by Cretin Avenue and Mississippi River Boulevard. The Residential Property is located at 2037 Summit Avenue, Saint Paul, on a city block directly across Cleveland Avenue South from the University’s Saint Paul campus on which other University buildings are located and next door to the University president’s house. The Athletic Facilities Project would be located near the intersection of Cleveland and Montreal Avenues in Saint Paul, within the Highland Bridge redevelopment area, approximately 2.5 miles from the University’s Saint Paul campus.
The Obligations to finance the Project would be issued in an original aggregate principal amount of up to approximately $165,000,000, consisting of up to approximately $135,000,000 original principal amount to finance the Main Campus Projects, and up to approximately $30,000,000 original principal amount to finance the Athletic Facilities Project.
If the proposed Athletic Facilities Project does not go forward as planned, the University would reallocate Obligations initially intended for financing of the Athletic Facilities Project, in the original principal amount of up to approximately $30,000,000, to acquisition, design, demolition, construction, renovation, improvement, furnishing and equipping of various facilities on the University’s main campus in Saint Paul, Minnesota, including other athletic facilities or a new academic building to serve as a permanent location for the University’s nursing program (“Additional Main Campus Projects”). In such event, while the total original aggregate principal amount of Obligations of up to approximately $165,000,000 would not change, the original not-to-exceed principal amount to finance the Main Campus Projects would increase with the inclusion of the Additional Main Campus Projects from approximately $135,000,000 to up to approximately $165,000,000.
The public hearing on April 20, 2022, will be conducted by telephone or other electronic means in accordance with Minnesota Statutes, Section 13D.021. Members of the public may attend the hearing in person at the offices of the Authority or via telephone by calling toll-free 1‑877‑978-6969; Access Code 476-437-948# or by video at https://www.gomeet.com/476-437-948 (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 or 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.
The offices of the Authority are located at 380 Jackson Street, Suite 450, Saint Paul, Minnesota 55101.
For additional information on such public hearing, see the Notice of Public Hearing – University of St. Thomas, 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 Project.
Dated: April 13, 2022
By Order of the
Minnesota Higher Education Facilities Authority
Barry W. Fick