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Orange County Board of County Commissioners TEFRA Approval September 22, 2009 Nemours Children’s Hospital Tax Exempt Bonds
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Established in 1936 Sole beneficiary of the Alfred I. duPont Testamentary Trust Proceeds from the Trust support the Enterprise, which includes: 4,100 employees 420 physicians 238,000 children 160 researchers 802 residents, fellow + students Who We Are
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VISION Freedom from disabling conditions. MISSION To provide leadership, institutions, and services to restore and improve the health of children through care and programs not readily available, with one high standard of quality and distinction regardless of the recipient’s financial status. Our Vision and Mission
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Delaware Nemours/Alfred I. duPont Hospital for Children Multiple primary care sites Pennsylvania Thomas Jefferson University Bryn Mawr (Main Line) New Jersey Atlantic City Voorhees Florida Orlando (Lake Mary & Viera Satellites) Jacksonville Pensacola Where We Are Ranked in the Top 25 nationally by Parents magazine
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Florida not-for-profit corporation “501(c)(3)” IRS designation Headquarters located in Jacksonville, FL Corporate Overview
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In 2008, Nemours physicians and other providers in Florida have cared for: Over 105,000 patients -- 50,000 were new patients Nearly 240,000 outpatient visits Over 25,000 surgical procedures Nemours Florida
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A fully integrated system of care and pediatric health campus offering: Leading edge clinical care Physician and health care worker education Life science research Prevention and wellness programs Advocacy programs for children’s issues Vision for Florida
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Located in Medical City
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Nemours Children’s Hospital Site Plan - PHASE I + II
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About the Project 60-acre campus in Lake Nona’s Medical City Phase 1 encompasses 630,000 SF 95-bed children’s hospital Outpatient specialty clinics Emergency department Diagnostic services Education and Research centers Construction began in June 2009 and will be completed in the second quarter of 2012 LEED certification planned Total project budget = $380 million
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Nemours Children’s Hospital and Clinic in Orlando will represent: Construction Phase – 5,082 jobs, $166M in wages and economic impact $701M Early Operational Phase* – 1,905 jobs, $109M in wages and economic impact $414M * first two years Maturation Phase* – 2,600 jobs, $81M in wages and economic impact $309M * first five years (2007 Milken Institute report) Economic Impact
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Nemours Children’s Hospital
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Amount: Up to $350 million Safety of Bonds/Strong Pledge Public Benefit: Tax-exempt bonds (saves hospital 35% per year in interest cost) Reduces health-care costs Public Cost: None Payable only from Nemours revenues, not public funds Bondholders have no legal rights to require state, county or city governments to pay Proposed Issuance of Bonds
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Public Notice/Advertisement: Placed in The Orlando Sentinel on August 19, 2009 Date hearing held : Wednesday, September 2, 2009 at 7:30 a.m. Orange County Administration Center, Room 105, First Floor 201 South Rosalind Avenue Orlando, FL Required TEFRA Public Hearing
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Adoption of a resolution approving the issuance by the Orange County Health Facilities Authority of its Revenue Bonds (The Nemours Foundation Project), in one or more series or subseries, and bearing interest in one or more modes, in an aggregate principal amount not to exceed $350,000,000, to loan the proceeds thereof to Nemours to finance and refinance a portion of the costs of the aforementioned projects and certain outstanding indebtedness of Nemours which financed a capital project for Nemours' headquarters facility in Jacksonville. Requested BCC action
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Orange County Board of County Commissioners TEFRA Approval September 22, 2009 Nemours Children’s Hospital Tax Exempt Bonds
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