The Project closed in 2010.
Bond Financing Projects
Showcasing Previous Double Tax-Exempt Projects
Prairie Crossing Charter School
The Prairie Crossing Charter School is located at 1531 Jones Point Road in Grayslake IL (Lake County). Bonds in the amount of $8,980,000 were issued to Prairie Crossing Charter School to refinance existing debt and for property acquisition and construction of a new gymnasium. Prairie Crossing Charter School began operations in 1999. A new building was constructed in 2004, followed by a gymnasium and another building two years later. The school has seen substantial growth and currently educates over 400 students in K-8.
The Project closed in 2019.
Morris Hospital
Morris Hospital will finance a three part expansion and modernization plan using proceeds from this $60 million bond issuance. The first project is at the Diamond- Coal City single-story multi-specialty outpatient center.
The second improvement will be at the Morris Main Hospital in Morris, IL. The Emergency Room will be relocated from the South to the East wing of the hospital, allowing the hospital to grow from 9 mostly semi-private to 17 all private rooms and treatment areas.
The third project will be at the two-story multi-specialty 15,336 square foot outpatient center in Ottawa, IL that will contain Imaging, Rehab, Occupational Medicine, Laboratory, Immediate Care, and physician offices on the first floor. The 13,369 square foot second story will be shelled out for future physician office growth and consolidation.
The Project closed in 2018.
Prairie View Timber Oaks
Prairie View Timber Oaks was the purchase and renovation of housing developments in Woodstock, IL (McHenry County) and Ingleside, IL (Lake County) to further the mission of Invest in America Veterans Foundation, Inc., (American Veterans Foundation) a non-profit 501(C)(3) company based in Jacksonville, FL.
The project was the purchase, renovation and improvement of a 334-unit multifamily housing development located at 411 Leah Lane, in the City of Woodstock, McHenry County, Illinois known as Prairie View and a 235 units multi-family housing development located at 310 South Route 59 in unincorporated Ingleside, Lake County Illinois known as Timber Oaks. The total project size was $67,000,000.
On June 27, 2018, bonds were issued in the amount of $60,400,000 to help create and retain 10 full-time jobs.
Cinnamon Lakes Towers
Cinnamon Lake Towers is a 274-unit multi-family housing development located in Waukegan, IL. The Project consists of two, seven–story brick-faced buildings plus a clubhouse with pool, a pond, tennis courts, tot-lot play area and BBQ area. The project renovation will include complete roof replacement, repair of concrete on balconies/patios, LED lighting throughout the common areas, resurfacing parking lot; replacement of all HVAC units, kitchen cabinets and countertops, flooring materials, appliances, plumbing and worn/inefficient windows and glass sliding doors.
The resident make-up includes families, individuals and seniors. All 274 of the units are currently Section 42 tax credit units at the 60% income level and 115 of these units are covered by two Section 8 HAP Contracts. Of the Section 8 units, 110 of the 115 are designated for the elderly and/or disabled.
The total project was $30,000,000. On June 27, 2018, bonds were issued in the amount of $26,650,000 to help create and retain 63 full-time jobs.
Ottawa Dental Laboratory
Ottawa Dental Laboratory, LLC, established in 1937, is a third-generation manufacturer or dental products Illinois Corporation. The Company has outgrown their existing facility and need more space to add more employees. The Company has experienced rapid growth and needs to add and additional 11,000 square feet of office, production, training, accounting, customer service, production, shipping and receiving. Future growth is expected in their digital work-flow using computer aided design and manufacturing. The method of product processing by analog impressions has been flowing into digital design work-flow and producing high volumes.
The total project is $4,500,000 and will create 50 new jobs. On June 22, 2018, bonds were issued in the amount of $4,300,000 to help create 50 full-time jobs.
Cambridge Lakes Learning Center
Cambridge Lakes Charter School, established in 2007, is a K-8th grade school and middle school with an Academy of 9-12th grade located on a 15-acre campus in Pingree Grove, IL (Kane County) and is part of Community Unit School District 300.
The parent company- Northern Kane Educational Corp. (NKEC) planned to make capital improvements, acquire approximately 1.65 acres of land, construct a new parking lot and refund debt. Prior debt was used to pay for the costs of the acquisition, design, improvements, construction and equipping of several buildings, the Annex, the tutoring center, the Retherm Link, classrooms and site work for Circle Drive.
On December 14, 2017, bonds were issued in the amount of $18,750,000 to help create 43 full-time jobs.
Goodwill of Northern Illinois
Goodwill Industries of Northern Illinois is a community-based not-for-profit organization that provides jobs training, and placement services for people with barriers to achieve meaningful employment. Rockford, IL serves as the headquarters for Goodwill Northern Illinois and is one of 165 Goodwill agencies under Goodwill Industries International (GII).
This project was to construct their 12th facility in Crystal Lake, IL (McHenry County). The Company purchased an out-lot on property next to a Walmart to construct a new building that housed a retail store and administered a Let’s Go to Work program which provides individuals with significant barriers employment with the help of a dedicated job coach to help them achieve the dignity of work while learning valuable job skills. They hired 5 full time and 36 part-time employees to operate the retail facility, a job coach and 12 individuals with significant disabilities for the Let’s Go to Work! program. The total project cost was $3,100,000 that included a building cost of $2,900,000 and fixture cost of $200,000. On August 22, 2014, bonds were issued in the amount of $2,320,000 to help create 23 full-time jobs.
Pleasant View Lutheran Home
Pleasant View Lutheran Home is a non-profit continuing care retirement community that has 34 independent living cottages, and 132 skilled nursing beds located on 17.3 acres in Ottawa, IL (LaSalle County) on the former site of Pleasant View Luther College. Pleasant View has served the elderly in the Greater LaSalle County area since 1936.
Upon completion of the new assisted living building, residents of the intermediate care wing moved into the new building and the existing intermediate care building was demolished and replaced with a new administrative wing and town center. The total project was $20 million. On September 23, 2010, bonds were issued in the amount of $16,695,000 to help create and retain 215 full-time jobs.
Aurora Christian Schools
Aurora Christian is a non-profit private school that has a pre-school, elementary school and high school on 116 acres in Aurora, IL (Kane County).
In 2003, they acquired 116 acres along I-88 near Orchard Road in Aurora and renovated a facility on Sullivan Road in Aurora. The school added a full gymnasium and football field. In 2011 the Pre-school, Elementary schools, Middle and High School were consolidated in the Sullivan Campus building. On October 31, 2012, bonds were issued in the amount of $13,250,000 to help create and retain 200 full-time jobs.
The Project closed in 2012.
Deer Path of Huntley, INC
Deer Path constructed a new 110,000 square foot 128-unit supportive living senior housing facility for persons with physical disabilities in Huntley, IL (McHenry County). On July 13, 2012, bonds were issued in the amount of $19,730,000 to help create 50 full-time jobs.
The Project closed in 2012.
Pleasant View Village Square
Pleasant View Luther Home is a non-profit continuing care retirement community that currently has 34 independent living cottages, and a total of 132 skilled nursing beds located on 17.3 acres in Ottawa, IL on the former site of Pleasant View Luther College. Pleasant View Luther Home, Inc., (Pleasant View) is planning the construction of a new Administration and Village Square building and an additional 17 new housing units in the existing pavilion in Ottawa, Illinois.
The total project will be $8 million, create 4 new jobs and retain 200 jobs.
Walsh Automotive
The Project closed in 2010.
Plaspros, INC.
Morris Healthcare
The Project closed in 2007.
Habitat for Humanity of Illinois
The Project closed in 2007.
NIMED Corp
UIRVDA, has issued $55,000,000 in bonds to NIMED Corporation, an affiliate of Centegra Health Systems, to fund the construction of a 60,000 square foot ambulatory care center and medical office building on Haligus Road and a 120,000 square foot health club on Algonquin Road in Huntley. The project and related expansions are expected to create 90 new jobs in the area.
The Project closed in 2007.
Living Springs Senior Living
Living Springs of McHenry underwent construction of a 99 unit Supportive Living Facility (SLF) at 4609 West Crystal Lake, McHenry, IL. The total project is $14,000,000 and will create 38 new jobs.
The Project closed in 2006.
Illinois Valley YMCA
The Project closed in 2004.
Streator Dependable
The Project closed in 2004.
Countryside of Yorkville, INC
Countryside is the developer of a 138-unit affordable housing property for low income elderly and disabled residents in Illinois. The project was the purchase and renovation of housing units which included new kitchens, bathrooms, improved lighting, remodeling of the community rooms and public facilities.
The total project was $7.1 million. On December 22, 2004, bonds were issued in the amount of $6,500,000 to help create 5 full-time jobs.
Advanced Flexible Composites
AFC, established in 1988 and headquartered in Lake in the Hills, IL (McHenry County) is a manufacturer of high temperature fabrics. They specialize in non-stick composite and silicone-coated materials that are used in the fabric, conveyor belting, pressure-sensitive adhesive tape and heat sealer markets. The project was the purchase of a 22,000 square foot building on two acres to expand their manufacturing operations. On April 3, 2003, bonds were issued in the amount of $5,500,000 to create and retain 72 full-time jobs.
The Project closed in 2003.
Georgi Holdings
The Project closed in 2002.
Windows Acquisition
The Project closed in 2002.
Advanced Drainage Co
The Project closed in 2002.
Tri-Con Materials
The Project closed in 2001.
Seneca Grain Co
The Project closed in 2001.
Morris Hospital
The Project closed in 2001.
Clover Technologies
The Project closed in 2000.
Gemini Acres, LP
Gemini Acres LLC is a real estate holding company that owns and leases property to the A&R Companies which consists of a group of family owned transportation profit centers.
On April 1, 1998, bonds were issued in the amount of $22,700,000 to help create 100 full-time jobs. In 2014, UIRVDA worked with Gemini to sell the warehouse and assume the lease to CenterPoint Properties, Inc. a large real estate firm that owns 325 buildings containing 58 million square feet. UIRVDA facilitated the addition of CenterPoint as an additional guarantor of the bond over the existing collateral and guarantees.
The Project closed in 2000.