Program Name: Private Activity Bonds – Healthcare 501(c)(3) Organizations
Organization: Illinois Finance Authority
Address: 160 N. LaSalle St., Suite 1000-S

Chicago, IL 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:  Details on the application process, as well as the application, can be found online in the Authority’s Public Finance Handbook at https://www.il-fa.com/sites/all/themes/ifa/docs/Public%20Finance%20Handbook%202025.pdf.
Program Start Date:  Ongoing
Program End Date: Ongoing
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 Sara Perugini, 312.651.1340, sperugini@il-fa.com, on the Authority’s Public Finance Team to inquire about the application process.
Briefly Describe the Purpose of the Program
The purpose of the tax-exempt qualified private activity bonds is to create access for eligible healthcare 501(c)(3) organizations to federally tax-exempt bonds issued through public long-term credit markets, bank direct purchases and private placements. Types of healthcare 501(c)(3) organizations 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 Public Finance 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.