the lutheran village at miller`s grant

THE LUTHERAN VILLAGE AT MILLER’S GRANT
HJ SIMS IS PROUD TO SERVE
Borrower
The Lutheran Village at Miller’s Grant, Inc.
as the municipal bond underwriter
providing the financing for the
Lutheran Village at MILLER’S
GRANT—a continuing care
retirement community (CCRC)
located close to Washington, DC and
Baltimore in Ellicott City, Maryland.
Securities Offered
Tax-Exempt Revenue Bonds, Series 2014
Investment
New Construction of the Lutheran Village at MILLER’S GRANT
Property Type
Continuing Care Retirement Community
Maturity
Short, Intermediate and Long Maturities Up to 30 Years
Interest Payments
Semi-Annually, Beginning January 1, 2015
Anticipated
Tax-Exempt Yield
5.00% - 6.50%
Anticipated tax-exempt yield varies depending on maturity and is subject to change.
INVESTMENT HIGHLIGHTS OF THE LUTHERAN VILLAGE AT MILLER’S GRANT
■
$104,280,000*of 2014 bonds will be offered.
$10,000 minimum investment.
■
The community is approximately 80% pre-sold and
is scheduled to open in 2015.
■
Situated on approximately 50 acres in Ellicott City,
MILLER’S GRANT is adjacent to the newly built
Charles E. Miller Library and Historical Center
in a park-like setting complete with walking trails,
wildlife and fishponds throughout the community.
■
When complete, the community will provide 241
independent living homes and apartments and 20
assisted living units, as well as 12 skilled nursing
beds which will be reserved for independent living
and assisted living residents transferring through the
continuum of care.
■
MILLER’S GRANT is a faith-based not-for-profit
whose sponsor organization is Carroll Lutheran
Village in nearby Westminster, MD with a strong
history of success and financial stability.
■
Security for the bonds includes the pledge of gross
revenues and mortgage on all properties.
■
Reserve Funds* include: Capitalized Interested
of$13,859,000 (23 months), Working Capital
Fund$17,100,000 along with a Debt Service
Reserve Fund totaling $7,767,000.
■
Carroll Lutheran Village, the sponsor organization
for MILLER’S GRANT, is providing up to $7,000,000
in a Liquidity Support Fund*.
Image is an artist rendering and may not represent what will be constructed.
877-577-3354
hjsims.com/millersgrant
We are currently accepting indications of interest for these tax-exempt,
non-rated municipal bonds with an expected settlement date in early
September. Please contact us for a Preliminary Official Statement.
*Offering is subject to change in price, terms and availability. Carroll Lutheran is not liable for payment of principal of or interest on the Series 2014 bonds except as
provided in the Liquidity Support Agreement. Contact an HJ Sims Income Advisor for a Preliminary Official Statement. This is not an offer to sell. Such an offering can
only be made by the Preliminary Official Statement, which describes the terms and conditions of the 2014 bonds. All investments involve risk including the fluctuation
of principal. Interest from municipal bonds is typically exempt from federal income tax. State tax-exemption typically applies if securities are issued within one’s state
of residence and local tax-exemption typically applies if securities are issued within one’s city of residence. Investors should carefully consider their own circumstances
before making any investment decision.
Member FINRA/SIPC