CLASSIFIEDS
00098886 —
Listing Began:
Description
Seller's Comments and Description:
NOTICE OF TELEPHONIC PUBLIC HEARING
WITH RESPECT TO PROPOSED REVENUE BOND FINANCING
BY THE DISTRICT OF COLUMBIA
9:30 A.M., January 6, 2026
800-320-6495; or Zoom at: https://zoom.us/join
Meeting ID: 973 4619 7911; Passcode: 473679
Notice is hereby given that the District of Columbia (the “District”) will hold a virtual public hearing (the “Public Hearing”) regarding a plan of financing for healthcare facilities of MedStar Health, Inc., a nonprofit Maryland corporation (the “Institution”), to be financed with revenue bonds, notes or other obligations (the “Bonds”), at one time or from time to time, by Maryland Health and Higher Educational Facilities Authority (the “Authority”) in an aggregate principal amount not to exceed $1.3 billion, a portion of which in the aggregate principal amount not to exceed $676 million will be used for projects within the District. The Bonds are anticipated to be qualified 501(c)(3) bonds as defined in Section 145 of the Internal Revenue Code for healthcare facilities and other expenditures described herein. Proceeds of the Bonds will be loaned by the Authority to the Institution to finance, refinance and reimburse the costs of construction, acquisition, renovation, equipping and improvement of facilities (the “Facilities”) used in the Institution’s healthcare program and to pay costs of issuing the Bonds (collectively, the “Project”). The Facilities may also include land or interests in land, buildings, structures, machinery, equipment, furnishings or other real or personal property located on the same sites as the Facilities. The Facilities will include, without limitation, property used, owned and operated by the Institution or its affiliates in healthcare activities within the District as follows:
(1) refinance all or a portion of the Authority’s Revenue Bonds, MedStar Health Issue, Series 2013A, the proceeds of which were used to finance or refinance the acquisition, construction, renovation and equipping of healthcare facilities, including (without limitation): (i) the acquisition, construction, renovation and equipping of certain healthcare-related facilities owned by the Institution or its affiliates, including, without limitation, internal renovations of existing facilities at Washington Hospital Center Corporation and the construction of an approximately 2,675 square foot, three-level addition to the Lombardi Comprehensive Cancer Center and a new lobby, entrance and drop-off canopy for the Lombardi Building at the MedStar-Georgetown Medical Center, Inc. and (ii) the refinancing of a portion of the Authority’s Revenue Bonds, Medlantic/Helix Issue, Series 1998A and a portion of the Authority’s Revenue Bonds, Medlantic/Helix Issue, Series 1998B, the proceeds of which were used to finance a portion of the acquisition of the assets of certain healthcare organizations (collectively, the “2013A Project”);
The initial legal owners or principal users of the portion of the 2013A Project located within the District are as follows: the Institution, MedStar-Georgetown Medical Center, Inc., Washington Hospital Center Corporation and National Rehabilitation Hospital, Inc.
(2) refinance all or a portion of the Authority’s Revenue Bonds, MedStar Health Issue, Series 2015, the proceeds of which were used to finance or refinance the acquisition, construction, renovation or equipping of healthcare facilities, including (without limitation) to:
(a) refinance the District’s Multimodal Revenue Bonds Medlantic/Helix Issue, Series 1998B and the District’s Multimodal Revenue Bonds Medlantic/Helix Issue, Series 1998C, the proceeds of which were used to finance the acquisition and equipping of certain healthcare facilities by the Institution, including facilities held by Franklin Square Hospital Center, Inc. (the “Franklin Square Campus”), The Good Samaritan Hospital of Maryland, Inc., Harbor Hospital, Inc., The Union Memorial Hospital, Washington Hospital Center Corporation (“Washington Campus”) and National Rehabilitation Hospital, Inc. (“National Rehabilitation Campus”), and miscellaneous capital items including acquisition of equipment and renovation of hospital buildings;
(b) refinance the Authority’s Refunding Revenue Bonds, MedStar Health Issue, Series 2004, the proceeds of which were used to finance the acquisition and equipping of certain healthcare facilities including (without limitation): the refinancing of the District’s Multimodal Revenue Bonds, MedStar Health, Inc. Issue (Georgetown University Hospital and Washington Hospital Center Projects), Series 2001A, 2001B, 2001C and 2001D (collectively, the “2001 Refunded Bonds”). The proceeds of the 2001 Refunded Bonds were used for (i) the acquisition by the Institution of certain assets previously owned by Georgetown University and used in the operation of the MedStar-Georgetown Medical Center, Inc.; (ii) improvements to and equipping of the MedStar- Georgetown Medical Center, Inc.; and (iii) improvements to and equipping of the facilities on the Washington Campus and the National Rehabilitation Campus; and
(c) refinance the Authority’s Revenue Bonds, MedStar Health Issue, Series 2007, the proceeds of which were used to finance the acquisition and equipping of certain healthcare facilities for the Institution on the Franklin Square Campus, including (without limitation): (i) construction of a seven-story, approximately 356,000 square foot patient tower (the “FSC Patient Tower”), (ii) a parking garage (maximum of 12 levels) and surface lot of approximately 1,100 spaces, collectively, (iii)renovations in contiguous areas to the patient tower, (iv) related infrastructure, including electrical generation and other utilities, sitework and construction inside and outside the existing facilities on the FranklinSquare Campus for the purpose of accommodating, connecting with, and utilizing the FSC Patient Tower, the parking garage and surface lot, and (v) related furnishings and equipment;
The items set forth in paragraph (2) are collectively referred to herein as the “2015 Project.” The initial legal owners or principal users of the portion of the 2015 Project located within the District are as follows: the Institution, MedStar-Georgetown Medical Center, Inc., Washington Hospital Center Corporation and National Rehabilitation Hospital, Inc.
(3) refinance all or a portion of the District of Columbia Multimodal Revenue Bonds, Medlantic/Helix Issue, Series 1998A Tranche I, Tranche II and Tranche III, the proceeds of which were used to finance or refinance the acquisition, construction, renovation or equipping of healthcare facilities.
The items set forth in paragraph (3) are collectively referred to herein as the “1998 Project.” The initial legal owners or principal users of the portion of the 1998 Project located in the District are as follows: the Institution, Washington Hospital Center Corporation, National Rehabilitation Hospital, Inc. and MedStar Ambulatory Services, Inc.
(4) The financing, refinancing and reimbursement of (i) the acquisition, construction, renovation and equipping of healthcare facilities and support facilities and (ii) capital expenditures relating to acquisition, installation, equipping and implementation of an electronic health record system for District of Columbia healthcare facilities (collectively, the “2026 District of Columbia Projects”).
The initial legal owners or principal users of the 2026 District of Columbia Projects are and will be as follows: the Institution, Washington Hospital Center Corporation, MedStar-Georgetown Medical Center, Inc., National Rehabilitation Hospital, Inc. and MedStar Ambulatory Services, Inc.
The Project may also include other capital expenditures and the costs of issuing the Bonds and includes land or interests in land, buildings, structures, machinery, equipment, furnishings or other real or personal property located on the same sites as the Project.
The portion of the Project located in the District and initially legally owned or principally used by (a) Washington Hospital Center Corporation (d/b/a MedStar Washington Hospital Center) is and will be located at 110 Irving Street, N.W., Washington, D.C. 20010, 108 Irving Street, N.W., Washington, D.C. 20010 and 106 Irving Street, N.W., Washington, D.C. 20010, (b) MedStar-Georgetown Medical Center, Inc. (d/b/a MedStar Georgetown University Hospital) is and will be located at 3800 Reservoir Road, N.W., Washington, D.C. 20007, (c) National Rehabilitation Hospital, Inc. (d/b/a MedStar National Rehabilitation Network) is and will be located at 102 Irving Street N.W., Washington, D.C. 20010, and (d) MedStar Ambulatory Services, Inc. is and will be located at 102 Irving Street N.W., Washington, D.C. 20010, 110 Irving Street, N.W., Washington, D.C. 20010, and 3800 Reservoir Road, N.W., Washington, D.C. 20007. Except as otherwise set forth above, the Institution or another affiliate is and will be the initial legal owner or principal user of the Project or the applicable portions thereof. The Institution is and will be located at 10980 Grantchester Way, Columbia, Maryland 21044.
The maximum aggregate principal amount of the Bonds issued with respect to the following portions of the Project will not exceed the following amounts:
2013A Project $120.0 million
2015 Project $360.0 million
1998 Project $150.0 million
The portion of the 2026 District of Columbia Projects
related to:
MedStar Washington Hospital Center $250.0 million
MedStar Georgetown University Hospital $120.0 million
MedStar National Rehabilitation Network $25.0 million
MedStar Ambulatory Services, Inc. $30.0 million
Acquisition, installation, equipping and
implementation of an electronic health record
system for the above-listed facilities $650.0 million
The Bonds will be issued pursuant to a plan of financing for the Project that may entail the financing or refinancing from time to time by the Bonds including the financing and refinancing of the Bonds. Because of the possible inclusion of original issue discount bonds (some of which may be capital appreciation bonds) the total amount of Bonds payable at maturity may exceed the initial stated principal amount of the Bonds.
The virtual public hearing will be held to meet the requirements imposed by Section 147(f) of the Internal Revenue Code to the extent applicable to the Bonds. The virtual public hearing, which may be continued or adjourned, will be held at 9:30 a.m. on January 6, 2026, using the dial-in telephone number and access code or the Zoom meeting provided at the top of this notice. Persons who wish to present oral testimony at the telephonic hearing should provide their names, addresses and telephone numbers, as well as the organization they represent (if any), to William Liggins at (202) 812-6090. Please feel free to contact William Liggins at William.liggins@dc.gov_ to request a meeting invitation to the Zoom meeting. Each person presenting oral testimony will be limited to 4 minutes and should provide Mr. Liggins with 5 written copies of their testimony at, or prior to, the hearing. Persons wishing to submit only written testimony may submit their testimony by 5:00 p.m. on January 5, 2026, to: William Liggins, Office of the Deputy Mayor for Planning and Economic Development, D.C. Revenue Bond-Enterprise Zone Program, 1015 Half Street, SE, Suite 675, Washington, D.C. 20003 or email to William.liggins@dc.gov.
December 29th, 2025 Ad#98886