NOTICE OF PUBLIC HEARING 8/21/2023 – (TEFRA Hearing)

NOTICE OF PUBLIC HEARING

August 21, 2023
2:00p.m. Alaska time
City Hall, Conference Room 224
155 South Seward Street
Juneau, Alaska 99801

NOTICE IS HEREBY GIVEN that a public hearing will be held by the City and Borough of Juneau, Alaska (“CBJ”), on August 21, 2023, at 2:00 p.m. (or as soon thereafter as practicable) in Conference Room 224 at City Hall, located at 155 South Seward Street, Juneau, Alaska 99801, regarding the proposed issuance by the Public Finance Authority (the “Issuer”) of the Issuer’s qualified 501(c)(3) bonds, as defined in Section 145 of the Internal Revenue Code of 1986 (the “Code”), for one or more health care facilities, in one or more series, in a par amount not to exceed $250,000,000 (the “Bonds”).

The proceeds from the sale of the Bonds, together with the proceeds of certain taxable bonds to be issued by the Issuer, will be used by the Issuer to make a loan to Aurora Integrated Oncology Foundation, a Delaware not-for-profit corporation and an organization described in Section 501(c)(3) of the Code (the “Borrower”), to (a) either via the acquisition of the membership interests in the entities that own such assets or through the acquisition of such assets directly, finance the acquisition of (i) various existing radiation oncology centers located in the State of Alaska including, without limitation, the real estate and equipment related to such centers, including a radiation oncology facility located in Juneau (the “Juneau Treatment Facility”) and a medical office building and a patient house located in Juneau (the “Juneau MOB and Patient House”), and (ii) a professional physician practice providing physicians to provide services in such existing radiation oncology centers, (b) fund one or more debt service reserve funds; and (c) pay costs incurred in connection with the issuance of the Bonds.  On the date of issuance of the Bonds, the Juneau Treatment Facility will be owned by RBS Evolution of Juneau, LLC, the sole member of which will be the Borrower, and will be located at 1701 Salmon Creek Lane, Juneau, Alaska and expected to be acquired for a par amount of not more than $45,000,000, and the Juneau MOB and Patient House will be owned by the Borrower, and will be located at 1701 Salmon Creek Lane and 10736 Mendenhall Loop Road, Juneau, Alaska, respectively, and expected to be acquired for a par amount of not more than $6,500,000 (together with the amount for the Juneau Treatment Facility, the “Juneau Portion”).  The other facilities located outside of Juneau will each be subject to a separate public hearing in the jurisdiction in which the respective facility is located.

Under no circumstances will CBJ be in any way obligated to repay any portion of the Bonds.  The Bonds will be special limited obligations of the Issuer, payable solely from sources provided for by the Borrower in connection with the issuance of the Bonds.  The Bonds and interest thereon will not constitute an indebtedness or a pledge of the faith and credit of CBJ, the State of Alaska or any political subdivision thereof.

Section 147(f) of the Code requires that qualified 501(c)(3) bonds, such as the Bonds, must be approved by the applicable elected representatives of the governmental unit having jurisdiction over the area in which the assets being financed by the Bonds are located.  The Assembly, as the applicable elected representatives of CBJ, will consider a Resolution supporting or approving of the issuance of the Juneau Portion of the Bonds by the Issuer to finance the Project.

The purpose of the public hearing is to provide a reasonable opportunity for members of the public to express their views, orally or in writing, regarding the issuance of the Bonds and the uses and purposes of the proceeds of the Bonds.  The hearing will be conducted in a manner that provides a reasonable opportunity for persons with differing views to be heard on the question of the issuance of the Bonds.  Written comments may be delivered at the public hearing or mailed to CBJ at the address indicated above.

This notice is published pursuant to the public approval requirements of Section 147(f) of the Code.

Published online August 7, 2023
To be published in the Juneau Empire August 12, 2023

Municipal Clerk Elizabeth J. McEwen

August 7th, 2023|

CBJ Bids Farewell to Outgoing Finance Director Jeff Rogers

The City and Borough of Juneau will bid farewell tomorrow to Finance Director Jeff Rogers, who leaves Juneau for Portland, Oregon. Rogers joined CBJ in 2019 and has since managed four CBJ budget cycles and staffed nearly 80 Assembly Finance Committee meetings.

“It’s a big loss to the city,” said City Manager Rorie Watt at a CBJ farewell potluck today. “He’s brought us so much great energy and personality and talent and drive. [He’s] a stellar municipal employee, doing all he can to make what we do at CBJ better.”

Assembly Finance Committee Chair Carole Triem echoed the sentiment at Rogers’ final Finance Committee meeting on June 7, noting that he “has done an impeccable job of translating some really complicated things into words and graphs this Assembly can understand, which is not an easy thing to do.”

In addition to the herculean achievement of overseeing the annual budget cycle, Rogers recently guided CBJ to an AA+ bond rating from S&P and made major strides in leveling the playing field for local sellers by requiring remote sellers to pay CBJ sales tax.

Rogers also guided CBJ through the uncertainty of COVID-19, not only ensuring that the sudden influx of federal funding was managed responsibly but also securing a smooth transition back to the norm once that funding was no longer available.

Outside the Finance Department, Rogers played a key role in the evaluation process that resulted in CBJ achieving a perfect score in the Human Rights Campaign’s Municipal Equality Index for two consecutive years.

Today Rogers said, “There’s a lot of incredible people in the Finance Department and the City… Juneau’s government works and I feel blessed to have worked here. If I made anything even a little better I’m thankful for it.”

Rogers completed a Master of Fine Arts degree at Yale University in 2007. Afterward, he worked in business administration for the university while studying at the Yale School of Management. He moved to Juneau in 2009 to take up the position of Managing Director of Perseverance Theatre before going on to positions with the Alaska Senate Finance Committee and the Alaska Department of Environmental Conservation.

June 29th, 2023|

Assessor’s Office To Begin Canvassing This Month

The City and Borough of Juneau Assessor’s Office conducts inspections of various taxable properties within the borough between April and October every year. With about 12,000 taxable parcels throughout Juneau, the Assessor’s Office divides the borough into neighborhoods, which are inspected every five years. From now until October, the Assessor’s Office will be inspecting properties in the Glacier Spur, Northeast Valley, Out the Road, Thane and Tee Harbor neighborhoods. Switzer mobile home park will also be canvassed during this time period.

The canvass process involves an exterior inspection of a property, including taking photos from various angles, verifying measurements, and examining the property’s condition in order to provide a value for tax purposes. If you have questions regarding the identity of Assessor’s Office staff, please request to see their Assessor’s Office identification.

State law (AS 29.45.150) requires that all taxable properties within a municipality are systematically reviewed and updated by the assessor. In 1993, the Juneau Assembly passed a resolution establishing a five-year cycle of reevaluation.  For more information, contact the Assessor’s Office at (907) 586-5215 ext. 4906.

June 7th, 2023|

Apply for Senior Citizen Hardship Sales Tax Rebate by June 30

The deadline to apply for the 2023 Senior Citizen Hardship Sales Tax Rebate is right around the corner. Applications and all required supporting documentation must be received or postmarked by June 30, 2023.

Find the application form and instructions on the Senior Citizen Tax Benefits page  or pick up a paper copy at City Hall.

Not sure whether you qualify? In order to receive the Hardship Sales Tax Rebate, you must:

  • be 65 years of age or older
  • possess a valid CBJ Senior Sales Tax Exemption Card
  • have a gross income at or below 250% of the US Federal Poverty Guidelines for the State of Alaska (see the chart)

If you don’t already have your CBJ Senior Sales Tax Exemption Card, make sure to apply as soon as possible. You can find application forms and instructions on the Senior Citizen Tax Benefits page.

If you have questions, please contact the CBJ Sales Tax Office at [email protected] or (907) 586-5215 ex. 4901.

June 2nd, 2023|

S&P Global Ratings Rates CBJ Bonds ‘AA+’ in Vote of Confidence for Juneau’s Economic Future

S&P Global Ratings has assigned an ‘AA+’ rating to the City & Borough of Juneau’s series 2023 general obligation (GO) bonds and affirmed the AA+ rating on CBJ’s existing GO debt. The AA+ rating indicates a “very strong capacity to meet financial commitments” and is the highest rating usually awarded to communities Juneau’s size.

S&P’s analysis cited Juneau’s strong local economy and good financial-management policies as key factors in the rating. The analysis noted that “long-term economic trajectory will likely remain stable because Juneau has shown resilience to navigate uncertainty.”

“This is real evidence of the positive outlook for Juneau’s economy,” said CBJ Finance Director Jeff Rogers. “The AA+ rating reflects not only CBJ’s ongoing commitment to fiscal responsibility but shared efforts throughout the community to restart the local economy and rebound from COVID-19. It’s rewarding to see a third party recognize what we’re doing right.”

The full rationale is available in PDF form here.

Credit ratings measure an organization’s creditworthiness, or how likely it is that they will repay their debts on time and in full. For more information about credit ratings and the ratings process, visit S&P’s Understanding Credit Ratings webpage.

May 1st, 2023|