Public hearing on financing for Radar Recovery Center in San Diego.

NOTICE OF PUBLIC HEARING Public Notice is hereby given that a public hearing, as required by Section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code"), will be held by the Board of Supervisors of the County of San Diego, California (the County") through its designee for such purposes, the Public Finance Authority (the "PFA), a unit of government and a body corporate and politic under the laws of the State of Wisconsin, or its designee, on May 7, 2026, at 9:00 a.m. California time, or as soon thereafter as practicable. This public hearing will be held by telephone conference accessible to residents, taxpayers and other interested persons. Interested persons are encouraged to attend the telephone conference using the following instructions: Toll free dial in number: (877) 8535247 Conference Code: 2408995540. The public hearing is regarding a plan of finance of the PFA to issue one or more series of revenue bonds in a maximum aggregate principal amount not to exceed $750,000,000 (the "Bonds") for the purpose of, in part, financing facilities located in the County, which are not to exceed $77,000,000 maximum aggregate principal (the County Bonds"). The County Bonds will be issued for the purpose of financing the acquisition of an inpatient substance use disorder and behavioral health facility known as Radar Recovery Center (the "Facility") located in the County. The proceeds of the Bonds and the County Bonds will be loaned to Flyland Holdings LLC (the "Borrower"), a Wisconsin limited liability company and a disregarded entity of Stepstone Health Foundation, a Delaware nonprofit corporation and an organization described in Section 501(c)(3) of the Code, to provide the Borrower and/or Flyland Recovery Network, LLC ("FRN"), a related person to the Borrower, with moneys to finance certain projects including using the County Bonds to acquire the Facility. The maximum aggregate principal amount of the County Bonds expected to finance the Facility acquisition will not exceed $77,000,000 and will be used, together with certain other funds, for the purpose of (i) paying or reimbursing the Borrower, the costs of acquiring, directly or indirectly through the acquisition of a membership interest in the Users (as hereinafter defined), the costs of acquiring, directly or indirectly through the acquisition of a membership interest in the Users (as hereinafter defined), the acquisition of the Facility; (ii) funding one or more debt service reserve funds for the benefit of the County Bonds, if deemed necessary or desirable by the PFA or the Borrower; (iii) funding working capital for the Borrower or the Users, if deemed necessary or desirable by the PFA or the Borrower; (iv) funding interest accruing on the County Bonds, if deemed necessary or desirable by the PFA or the Borrower; and (v) paying certain expenses incurred in connection with the issuance of the County Bonds, including the cost of any bond insurance or other credit or liquidity enhancement, if any (collectively, the "County Project). The Bonds (including the County Bonds) will be issued as qualified 501(c)(3) bonds pursuant to Section 145 of the Code. The Facility financed by the County Bonds is or will be owned and principally used by one or more of the Borrower, FRN, and 28th Street Detox LLC, a related person to the Borrower (the "Corporation" and, together with FRN, the "Users"), and are located at 1119 28th Street, San Diego, California 92102, which is an inpatient substance use disorder and behavioral health facility known as Radar Recovery Center. The Bonds (including the County Bonds) are special, limited obligations of the PFA, payable solely out of funds to be paid by the Borrower pursuant to an agreement (or agreements) to be entered into between the Borrower and the PFA and any other revenues and/or other funds pledged and assigned for the payment of the Bonds, including the County Bonds. The County will not issue the Bonds, including the County Bonds, nor will the County nor the State of California have any liability with respect to the Bonds, including the County Bonds, or the sale or offering thereof. The public hearing is being held pursuant to Section 147(f) of the Code. The hearing will provide a reasonable opportunity to be heard for persons wishing to express their views on the plan of finance, the issuance of the Bonds or related matters. Oral comments will be limited to 10 minutes per speaker. A person wishing to speak at the hearing will be asked to provide his or her name, address and the person(s) or entity(ies) he or she represents, if any, prior to speaking. Written comments will be accepted by Megan Rudd, Chapman and Cutler LLP, 320 South Canal Street, Chicago, IL 60606, but must be received by the close of the hearing. Subsequent to the public hearing, the Board of Supervisors of the County will meet to consider approval of the issuance of the Bonds by the PFA for the purpose of financing the County Project. NOTICE DATED: April 30, 2026. PUBLIC FINANCE AUTHORITY San Diego UnionTribune Published: 4/30/26