AGENDA REQUEST

Sponsor: 

Board of Supervisors Meeting Date: 

Richard W. Robison, Center District Supervisor

November 8, 2007

Staff Lead:

Department: 

Kevin J. Burke, County Attorney

County Attorney

Topic: 

A Resolution of the Board of Supervisors of Fauquier County, Virginia, Approving the Issuance of Hospital Revenue Bonds (the “Bonds”) by the Industrial Development Authority of Fauquier County, Virginia (the “IDA”), for the benefit of The Fauquier Hospital, Incorporated (the “Hospital”) and Senior Living Concepts, LLC (the “LLC”)

Topic Description:

To approve the Industrial Development Authority’s assistance to the Hospital and Senior Living Concepts, LLC, in financing the following: 

1. An assisted living facility of approximately 65,000 square-feet (the “Assisted Living Project”) containing approximately 60 assisted living units, to be located in Fauquier County, Virginia, approximately six miles north of Warrenton, Virginia, on Route 29, in the planned unit development known as Suffield Meadows,
2. Improvements and renovations to the general hospital facilities operated by the Hospital at 500 Hospital Drive in Warrenton (Fauquier County), Virginia, including without limitation, the renovation and approximately 12,000 square-foot expansion of the Hospital’s existing emergency room and the construction and equipping of an outpatient observation unit within the Hospital’s existing facilities to include approximately 12 outpatient rooms (the “Hospital Project”), and
3. Routine capital expenditures, funded interest for the Bonds, and equipment purchases for the Assisted Living Project, the Hospital Project and for the Hospital’s other hospital facilities, by the issuance of the Bonds by the IDA in an amount not to exceed $40,000,000. 

The Bonds will not be obligations of the IDA or the County.

Requested Action of the Board of Supervisors: 

Consider adoption of the attached resolution.

 Financial Impacts Analysis:

See attached Fiscal Impact Statement.

Identify any other Departments, Organizations or Individuals that would be affected by this request:

Industrial Development Authority of the County of Fauquier, Virginia
The Fauquier Hospital, Incorporated
Senior Living Concepts, LLC

Attachments:

1.      Resolution of the Board of Supervisors of Fauquier County, Virginia

2.      Fiscal Impact Statement