NOTICE OF PUBLIC HEARING

NOTICE IS HEREBY given that a public hearing pursuant to Section 147(f) of the Internal Revenue Code of 1986, as amended (the “Code”) will be held with respect to the proposed issuance by the Arizona Industrial Development Authority (“AZIDA”) of its revenue notes, bonds or other obligations in one or more series from time to time pursuant to a plan of financing (the “Bonds”), in an aggregate principal amount not to exceed $400,000,000. The hearing will be held by the Board of Trustees of the Charter Township of Oxford (the “Township”), and will commence Wednesday, February 13, 2019 at 6:30 p.m., or as soon thereafter as the matter can be heard, and will be held at the Charter Township of Oxford Township Hall, 300 Dunlap Rd., Oxford, Michigan.

The Bonds are expected to be issued pursuant to the Industrial Development Financing Act, Title 35, Chapter 5, Articles I through 5 of the Arizona Revised Statutes, as amended (the “Act’), by AZIDA, an Arizona nonprofit corporation designated as a political subdivision of the State of Arizona, incorporated with the approval of the Arizona Finance Authority, pursuant to the provisions of the Constitution and laws of the State of Arizona and the Act. The proceeds from the sale of the Bonds will be loaned to Great Lakes Senior Living Communities LLC, a Delaware single member limited liability company, an affiliate, subsidiary or a to-be-formed limited liability company related thereto (the “Borrower”) and used to finance all or a portion of certain “Projects,” which consist of: (i) financing or refinancing the costs of the acquisition, improvement, equipping, renovation or other expenditures with respect to certain qualified residential rental facilities constituting supportive living facilities, including without limitation not more than $47,300,000 proceeds of the Bonds to be allocated to the senior living community known as “Independence Village of Waterstone” located at 701 Market St., Oxford, Michigan, which contains approximately 145 units (the “Independence Village of Waterstone Project’); (ii) funding any required reserve funds; (iii) paying capitalized interest on the Bonds, if any, (iv) funding working capital, if any, and (v) paying costs of issuance of the Bonds. All or a substantial portion of the Bonds are expected to be issued as qualified “501(c)(3) bonds” pursuant to Section 145 of the Code. The Borrower will own the Projects and Senior Village Management LLC will manage the Projects. The single member of the Borrower is Provident Resources Group, Inc., a nonprofit corporation organized and existing under the laws of the State of Georgia.

The Bonds will be special limited obligations of AZIDA payable solely from the loan repayments to be made by the Borrower and certain funds and accounts and assets to be established by the indenture of trust for the Bonds. The proposed Bonds shall not constitute an indebtedness or pledge of the Township within the meaning of any constitutional or statutory provision, and the owners of the proposed Bonds shall not be paid in whole or in part out of any funds raised or to be raised by taxation or any other revenues of the Township.

At the time and place set for the public hearing, interested persons will be given the opportunity to express their views, both orally and in writing, on the merits of the Independence Village of Waterstone Project, its location, the issuance of the Bonds or related matters. Written comments will be accepted by the Board of Trustees of the Township located at 300 Dunlap Rd., Oxford, Michigan, 48371 but must be received prior to the close of the hearing.