Travis County Commissioners Court
December 8, 2009,
Travis County Health Facilities Development Corporation
Now let's call to order the Travis County health facilities development corporation.
1.
consider and take appropriate action to approve bond resolution authorizing the issuance of revenue bonds by the corporation for the benefit of westminster manor, and other matters in connection therewith.
and this was item no.
3 on which we had a public hearing in the voting session of the Travis County Commissioners court.
>> good morning.
>> good morning, judge and Commissioners.
i'm lad patillo, financial advisor to the corporation.
first of all, I would like to apologize to these two and nice and patient ladies that I brought up at the wrong time, got to sit up close and you got a good look.
at the far ends is kathy
>> [indiscernible] with king brothers from san francisco and Margaret gosling who is a board member there at the west minster and we're here to describe the transaction today and I would turn it over to kathy to describe that transaction and cliff blunt and I are here to answer any questions for you.
>> okay.
>> good morning.
i'm just going to describe the plan of finance for the project and then ask Margaret gosling to describe the organization and the project that they have planned for their campus.
the financing is being undertaken with two distinct parts.
the first part is before you today.
it's the issuance of up to $30 million in bank qualified bonds.
those bonds, the proceeds will be used to fund the initial construction of the project that Margaret will describe.
the second phase, which will become phase of financing which will come before you in January will be a tax exempt bond issue.
and together those proceeds will fund the construction and the other soft costs associated with the transaction.
with that I will turn it over to Margaret.
>> thank you, Commissioners.
my name is Margaret gosling and I serve as the chair of west minster's expansion committee.
as I believe you may know, west minster manor has been in Austin for over 40 years providing senior retirement living.
during that time we have consistently maintained a waiting list for available apartments of one and a half to three years.
this project is designed to refresh those 40-year-old facilities, but also to expand the number of apartments to accommodate those people on the waiting list from our community and to provide a -- a new, more up to date system -- systems in our health care center.
specifically, the project includes 75 empty living units, which you and I would see as apartments.
107 bed health care center including 22 assisted living units, 30 memory care beds and 55 skilled nursing beds.
in anticipation of your positive action today, this project is presently out for bid.
white construction, a local Austin contractor, has been chosen as our construction manager following a -- a competitive bid process on that.
we have given instructions to white to make sure that all capable members of the Austin community, specifically the minority population, are asked to participate.
this job, I met with white yesterday and have been told that they have an exceptionally high level of interest.
with your assistance, I would say that that would also lead to the added benefit to the Austin community, because we have a three year long construction project that will create numerous very good jobs right here in Austin.
i don't know exactly how many workers and how many jobs we can expect on the case, but it's my understanding that the contractors ask for 100 parking spaces, so that may be some evidence of the future employment that this job will bring.
with me here today, little, is david quintanilla, the chair of our board of directors.
bryan robbins our executive director and kevin reed who serves as our general counsel.
we would ask for your positive action and we are ready to answer any questions that you may have.
>> questions?
>> I have one, judge.
basically if the court approves this particular deal today for you, which I applaud you for what you are doing, I think that you are doing a great thing.
however, for those that are listening saying oh, my goodness gracious, this is what's coming on, they will get additional units.
of course as you stated before there is a waiting list.
so just based on that particular, those particular statements, my question is when will -- when will -- notice to proceed began and also you will have some available units to take care of those particular persons that are waiting on the waiting list.
>> we anticipate giving the contractor, if, you know -- if we -- we are hoping for very successful bids that are significantly lower than our estimates.
>> right.
>> we're anticipating a notice of -- to proceed about the 15th of February.
>> 15th of February?
>> yes.
>> the project is done in really -- in really two phases.
the majority of the construction, which will be about 65 of the apartments and the new health care center, will be complete in about two years and then the remaining component, which is -- which is additional facilities, such as -- such as rehabbing and increasing the size of our community and fellowship areas, providing some additional exercise areas and eating venues, that -- and 10 more apartments, that will take an additional year, that will take it out to three years.
>> how long?
>> it will be two years before we have 65 new apartments.
and three years before the total job is completed.
>> okay, okay, thank you.
>> any other questions.
>> move approval.
>> second.
>> discussion of the motion?
all in favor?
that passes by unanimous vote.
>> thank you very much.
>> thank you all very much.
>> move adjourn.
>> all in favor?
that passes unanimously,
The Closed Caption log for this Commissioners Court agenda item is provided by Travis County Internet Services. Since this file is derived from the Closed Captions created during live cablecasts, there are occasional spelling and grammatical errors. This Closed Caption log is not an official record the Commissioners Court Meeting and cannot be relied on for official purposes. For official records please contact the County Clerk at (512) 854-4722.
Last Modified:
Tuesday, December 8, 2009 2:30 PM
