Program Name: Healthcare 501(c)(3) Bond Program
Organization: Illinois Finance Authority / Illinois Climate Bank
Address: 160 N. LaSalle St.
Suite S-100 S
Chicago, Illinois 60601
Phone: (312) 651-1300
Fax: (312) 651-1350
TDD: (800) 717-6066
Email: sperugini@il-fa.com
Website: www.il-fa.com
Application Deadline: Finalized application and other required deliverables are due no less than two weeks prior to monthly scheduled Board Meeting at which the application is to be considered.
Program Start Date: On-going
Program End Date: On-going
Application Guidelines: Application Guidelines: Information about the Healthcare program can be found on the Authority’s website at https://www.il-fa.com/programs/private-activity-bonds. Please reach out to the Authority’s Healthcare Team,
Sara Perugini, 312.651.1340, sperugini@il-fa.com or Chris Meister, 312.651.1310, cmeister@il-fa.com to inquire about the application process.
Briefly Describe the Purpose of the Program:
The purpose of the Healthcare 501(c)(3) Bond Program is to create access for eligible 501(c)(3) facilities to federally tax-exempt bonds issued through public long-term credit markets, bank direct purchases and private placements. Types of 501(c)(3) facilities eligible for the program include: hospital systems, medical centers, stand‐alone hospitals, community providers of behavioral healthcare, and continuing care retirement communities located in Illinois.
Year Program Established: The Authority was established in 2004
Eligibility Requirements or Restrictions:
Applicants must be 501(c)(3) entities and must comply with the Authority’s statutory requirements, policies and procedures and Bond Handbook requirements.
Funding Cap Per Application or Fiscal Year Program Funding: Varies
How Must Funds Be Used:
Funds can be used for qualified purposes which may include, but are not limited to, capital projects (construction/renovation of facilities), equipment acquisition, acquisition of land/buildings) or to refinance existing debt.