V. Drew Linnenbom

Experience

$14.2 million bond counsel for independent senior living and care organization

When the Laurel Lake Retirement Community was presented with the opportunity to become an independent senior living and care organization, it turned to us for counsel on the financing. We enlisted the help of the County of Summit, Ohio, to serve as issuer for a portion of the debt and worked closely with Laurel Lake and BB&T Capital Markets.

Through these partnerships, we helped to bring to life a master indenture financing structure involving three separate series of bonds for the tax-exempt portion of the financing and several separate taxable note issues. These included (i) a senior series of tax-exempt bonds, which was paired with an accompanying taxable portion of the financing, as an attractive investment to banks, (ii) two subordinate series of tax-exempt bonds, one fixed rate and the other adjustable rate, which were marketed to retail investors, and (iii) several series of taxable notes placed with banks.

We helped guide Laurel Lake and the County through the bond issuance process and related tax issues, holding the public hearings mandated by the Internal Revenue Service regulations, drafting the necessary bond and tax documentation and ultimately playing an important role in helping our client secure the lowest possible financing costs in reaching its goals.

$100,000,000 State of Ohio Revitalization Project Bond Anticipation Notes, Series 2012A

$100,000,000 State of Ohio Revitalization Project Bond Anticipation Notes, Series 2012A

$177,975,000 County of Montgomery, Ohio (Kettering Health Network Obligated Group)

$177,975,000 County of Montgomery, Ohio Adjustable Rate Hospital Facilities Revenue Refunding Bonds, Series 2011 (Kettering Health Network Obligated Group)

$18,925,000 County of Lucas, Ohio Health Care Facilities Revenue Refunding Bonds, Series 2011 (Sunset Retirement Communities, Inc.)

$18,925,000 County of Lucas, Ohio Health Care Facilities Revenue Refunding Bonds, Series 2011 (Sunset Retirement Communities, Inc.)

$27,430,000 County of Crawford, Ohio Adjustable Rate Hospital Facilities Revenue Refunding and Improvement Bonds, Series 2010 (Avita Health System Project)

$27,430,000 County of Crawford, Ohio Adjustable Rate Hospital Facilities Revenue Refunding and Improvement Bonds, Series 2010 (Avita Health System Project)

$3,000,000 County of Cuyahoga, Ohio Adjustable Rate Demand Recovery Zone Facility Bonds, Series 2010A and $10,000,000 County of Cuyahoga, Ohio Adjustable Rate Demand Industrial Development Refunding and Improvement Revenue Bonds, Series 2010

$3,000,000 County of Cuyahoga, Ohio Adjustable Rate Demand Recovery Zone Facility Bonds, Series 2010A and $10,000,000 County of Cuyahoga, Ohio Adjustable Rate Demand Industrial Development Refunding and Improvement Revenue Bonds, Series 2010A/B (The Great Lakes Brewing Co. Project) (Bond Counsel)

$40,000,000 State of Ohio Taxable Development Assistance Bond Anticipation Notes, Series 2012B (Ohio 166 Direct Loan Program)

$40,000,000 State of Ohio Taxable Development Assistance Bond Anticipation Notes, Series 2012B (Ohio 166 Direct Loan Program)

$7,790,000 Village of Bluffton, Ohio Adjustable Rate Demand Health Care Facilities Revenue Refunding and Improvement Bonds, Series 2011 (Mennonite Memorial Home Project)

$7,790,000 Village of Bluffton, Ohio Adjustable Rate Demand Health Care Facilities Revenue Refunding and Improvement Bonds, Series 2011 (Mennonite Memorial Home Project)