2. MIDA Bond-Bethany on 42nd - Laserfiche WebLink

CASS COUNTY MIDA BOND APPLICATION FORM 1. Narreofawlicant: Bethany on 42nd, a North Dakota limited liability company, the sole member of which is Bethany Homes, Inc., a North Dakota nonprofit corporation and an exempt organization under Section 501(c)(3) of the Internal Revenue Code. 2. Telf1X1one nuniJer of awlicant: 239-3000 3. SiE of~ nxJUfSl:ed: $25,000,000 4. Tweof~(checkrne): (a) Smill~-$I,<m,<m[Sectirnl44(a)] (b) Smill ~ - $1O,<m,<m [Section 144(a)(4)] (c) QJalifiedresidntial rental JrQiect [SectirnI42(a)(7)] (d) X QJalified501(c)(3) ~ [Section 145] (e) Re1imding~ (f) Other(~twe): 5. Iftwe ofis;re checked WL'i!IDlll i~ ($I,<m,<m (l' $1O,<m,<m), is ~ 1ir a llBllufucturing:fucility as defined in Sectirn 144(a)(12)(q? Yes No 6. Iftwe ofiS're check WL'i qualifiedresidntial rental JrOject, \\ill JrQiect om the lowincare requirerrents 1ir tenants as ~ oot in Sectioo 142(d)? Yes No 7. BtiIrnteddateofiS'reifawrovedbyCounty. April 25, 2008 8. Give a brief explanatioo ofpuject, \\blch explanatioo ~oo1d include the locatioo ofthe JrQiect, <b::riptioo ofthe tre of the tmd rcoceed;, and Wlether (l' nct the JrQiect v.ould create actIitirnal enploymnt: The Bond proceeds will be used to finance the construction and equipping of a new senior citizen campus at 2955 42"d Street South in Fargo consisting of approximately 78 skilled nursing beds, 40 assisted living units and a supporting community center that will feature a broad array of amenities, including a hair salon, coffee and gift shops, a movie theater, a library, a wellness center and chapel (the "Project"). The Project will create approximately 100 new jobs as well as additional employment during construction. 9. Attached to the Awlicatioo fumis a check in the armunt of$I,<m\\blch is the awlicatioo ree, \\blch ree isnoorefundable. If~ cbes cl~, the awlicatioo ree ~ be drlJcted fun the ~re ree ~ oot in ~ 11. 10. Attached is a t)ped Initial Re.<Dlutioo givingJrQiect prelininaryarproval and a Nctire ofHearing bcth in the ti:nnJrOvided by the County AOOitcx's oflire. The Initial Re.<Dlutioo andNctire ~ have a hearing date \\blch has been puvided to the awlicant by the Coonty AOOitcx'soflire. 11. The awlicant understands that the ~ce ree 1ir a new.MIDA tmd ~ is equal to l%ofthe first $1,<m,<m of the B:nd is're and that there is no ree be)md the first $1,<m,<m. fur refunding tmd ~ the ~re ree is ooe-half of the armunt ~ 10rth arove. Thted: March 7, 2008.