TAX EXEMPT BOND FINANCING PROGRAM

The Tax Exempt Bond Financing Program offers construction and permanent financing to cover costs of developing a primary care facility, including:

• Construction
• Renovation
• Equipment
• Professional services
• Purchase of property
• Financing costs
• Start-up working capital (up to 5% of the total loan amount)

Financing Level
Typically in excess of $6 million, depending on:

• Project costs
• The amount of debt the borrower's cash flow will support
• The financial strength of the borrower

Loan to Value
Up to 100% of total project costs may be financed by the loan.

Term
Up to 25 years

Security

• First mortgage and first lien pledge of facility revenues
• Debt service reserve equal to six months debt service

Interest Rate
Prevailing interest rates for tax-exempt bonds (approximately 5.5% for prior PCDC issues)