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Please note there will be two public hearings on September 9, 2026. Information on both is shown below.

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 under a plan of financing on behalf of ISF Delano LLC, ISF Marshall LLC, ISF Farmington LLC, ISF Mound LLC, ISF Edina LLC, ISF Brooklyn Park LLC, ISF Carver LLC, ISF East Bethel LLC, ISF Zimmerman LLC, ISF Apple Valley LLC, ISF Minneapolis LLC, and ISF Shakopee LLC, all to-be-formed Minnesota limited liability companies (the “Owners”), the sole member of each of which will be ISF Minnesota Holdings LLC, a to-be-formed Minnesota limited liability company, the sole member of which will be Integrated Senior Foundation, a California nonprofit public benefit corporation (collectively with the Owners, the “Obligated Group”), on September 9, 2026, 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 one or more series, in an original principal amount of up to approximately $370,000,000 (the “Obligations”) to (i) finance the acquisition, improvement, renovation, equipping, and furnishing, as applicable, of the following facilities (collectively, the “Facilities”):

  • approximately $14,235,000for assisted living facilities located at 1350 St Peter Ave E, Delano, MN, known as Legacy of Delano, consisting of 51 units, to be owned and operated by ISF Delano LLC;
  • approximately $18,600,000 for assisted living facilities located at 207 North 4th Street, Marshall, MN, known as Heritage Pointe, consisting of 58 units, to be owned and operated by ISF Marshall LLC;
  • approximately $38,325,000for assisted living facilities located at 22300 Denmark Ave, Farmington, MN, known as Legacy of Farmington, consisting of 70 units, to be owned and operated by ISF Farmington LLC;
  • approximately $26,815,000for assisted living facilities located at 1861 Commerce Blvd, Mound, MN, known as Harrison Bay Senior Living, consisting of 72 units, to be owned and operated by ISF Mound LLC;
  • approximately $44,655,000 for assisted living facilities located at 7141 York Ave S, Edina, MN, known as Yorkshire of Edina, consisting of 96 units, to be owned and operated by ISF Edina LLC;
  • approximately $40,570,000 for assisted living facilities located at 5601 94th Ave N, Brooklyn Park, MN, known as Urbana Place Senior Living, consisting of 103 units, to be owned and operated by ISF Brooklyn Park LLC;
  • approximately $36,130,000 for assisted living facilities located at 920 6th St W, Carver, MN, known as Carver Ridge, consisting of 70 units, to be owned and operated by ISF Carver LLC;
  • approximately $34,130,000 for assisted living facilities located at 19131 Taylor St NE, East Bethel, MN, known as Cedar Creek Senior Living, consisting of  70 units, to be owned and operated by ISF East Bethel LLC;
  • approximately $25,050,000 for assisted living facilities located at 26369 2nd St E, Zimmerman, MN, known as Fremont Village Senior Living, consisting of 65 units, to be owned and operated by ISF Zimmerman LLC;
  • approximately $28,930,000forassisted living facilities located at 5399 155th St W, Apple Valley, MN, known as Boden Senior Living Apple Valley, consisting of 64 units, to be owned and operated by ISF Apple Valley LLC;
  • approximately $22,285,000 for assisted living facilities located at 3733 23rd Ave S, Minneapolis, MN, known as Minnehaha Senior Living, consisting of 77 units, to be owned and operated by ISF Minneapolis, LLC;
  • approximately $40,250,000 for assisted living facilities located at 1880 Independence Dr, Shakopee, MN, known as All Saints Senior Living, consisting of 84 units, to be owned and operated by ISF Shakopee LLC;

(ii) fund interest on the Obligations during any renovation and construction of the Facilities, if necessary; (iii) fund one or more reserve funds to secure the timely payment of the Obligations, if necessary; (iv) fund working capital; and (v) pay the costs of issuing the Obligations (collectively, the “Project”).

All the Facilities are or will be owned and operated by the Owners, the sole member of each of which will be ISF Minnesota Holdings LLC, a to-be-formed Minnesota limited liability company, the sole member of which will be Integrated Senior Foundation, a California nonprofit public benefit corporation and organization described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the “Code”).

The Obligations will all be issued under Minnesota Statutes, Sections 15D.01 through 15D.18, and any tax-exempt Obligations will be “qualified 501(c)(3) bonds” under 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 Obligated Group. 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 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 796-778-378# or by video at https://www.gomeet.com/796-778-378 (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 – Integrated Senior Foundation, 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 issue Obligations to finance the Project.

Dated:  August 28, 2026                    

By Order of the

Minnesota Health and Education Facilities Authority

Barry W. Fick

Executive Director

MINNESOTA HEALTH AND EDUCATION FACILITIES AUTHORITY

Notice of Public Hearing on Revenue Obligations

On behalf of Rogers Memorial Hospital, Inc.

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 for the Wisconsin Health and Educational Facilities Authority (“WHEFA”) to issue its revenue bonds on behalf of  Rogers Memorial Hospital, Inc., a Wisconsin nonstock corporation (the “Borrower”) in the lower level Conference Room of the Authority’s offices at 860 Blue Gentian Road, Suite 145, Egan, Minnesota on Wednesday, September 9, 2026, at 2:00 p.m..   Under the proposal, WHEFA would issue its revenue bonds, in one or more series, whether taxable or tax-exempt, in a maximum aggregate original principal amount not to exceed $125,000,000 (the “Bonds”). 

The Bonds will be issued by WHEFA as qualified 501(c)(3) revenue bonds and the proceeds of the Bonds will be loaned by WHEFA to the Borrower, to provide the Borrower with funds to be used, together with certain other moneys, for (i) the refunding of certain outstanding Bonds previously issued by WHEFA on behalf of the Borrower, (ii) the financing or reimbursing, for various capital projects located in Wisconsin and Minnesota (the “Project”), and (iii) the financing of certain expenses incurred in connection with the issuance of the Bonds.  The Project includes the financing or reimbursing the Borrower for the costs of planning, design, acquisition, construction, renovation, improvement, expansion or equipping of various healthcare and related facilities, the land improvement costs of various healthcare and related facilities, and acquiring and installing equipment (including, but not limited to, medical equipment, computer equipment, office equipment and general building equipment and fixtures) used at the Borrower’s hospital and related healthcare and residential health facilities that are owned and operated by the Borrower, or an affiliate thereof, including the facilities to be located at the property on Circle Grove N. just south of 99th Place N., Maple Grove, Minnesota. 

The estimated principal amount of the Bonds for the Project is not to exceed $40,000,000, with no more than $5,000,000 of the proceeds of the Bonds allocable to the facility located in the State of Minnesota.

The Bonds, if issued by WHEFA, will be limited obligations of WHEFA and will not constitute an indebtedness of the State of Wisconsin within the meaning of any Wisconsin constitutional provision or statutory limitation or constitute or give rise to a pecuniary liability of the State of Wisconsin or a charge against its general credit or taxing powers.    

No holders of the Bonds will ever have the right to compel the exercise of the taxing power of the State of Minnesota or any political subdivision thereof to pay the Bonds or the interest thereon or to enforce payment against any property of the Authority, the State of Minnesota or any political subdivision thereof.

This public hearing does not impose any liability, financial or otherwise, on the Authority or the State of Minnesota or any political subdivision thereof or in any way involve the Authority or the State of Minnesota or any political subdivision thereof in the issuance of the Bonds, but is an accommodation by the Authority to satisfy the requirements of Section 147(f) of the Code for the issuance of the Bonds by WHEFA.

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, by video through the link https://meeting.gomeet.com/796-778-378, or by telephone by calling toll-free 1-877-978-6969; Access Code 796-778-378/# or 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 651-287-5751.  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. 

By Order of the

Minnesota Health and Education Facilities Authority

Barry W. Fick, Executive Director