Executive Director

Dear Members of the Authority:

Welcome Remarks

Welcome to the second regular meeting of the Illinois Finance Authority (the “Authority”) for Fiscal Year 2027.

I’d like to begin by extending my gratitude to the Members of the Board for appointing me as the Authority’s Executive Director during last month’s meeting, to the Governor’s Office for their nomination and support, and to the Authority’s staff for welcoming me to the IFA.  I look forward to the opportunity to work with this extremely talented team to continue to strengthen the impact of the Authority throughout Illinois.

This Month’s Agenda

New Business Items for consideration and approval this month include bond resolutions on behalf of two returning borrowers: Franciscan Communities, Inc. and OSF Healthcare System.  Franciscan Communities, Inc. is requesting the Authority issue its Revenue Bonds, Series 2026 to finance new money construction projects at two locations, including University Place in West Lafayette, Indiana and Marian Village Project in Homer Glen, Illinois.  The University Place Project includes the construction of a 62-unit independent living apartment building, the construction of an addition, and the renovation of existing facilities while the Marian Village Project includes the construction of a 42-unit memory care building.  OSF Healthcare System has requested the Authority issue its Revenue Refunding Bonds, Series 2026 to refund all or a portion of seven series of outstanding bonds up to a total of $600 million.  Both Franciscan Communities, Inc. and OSF Healthcare System have a long history of issuing conduit bonds through the Authority, and we greatly appreciate these partnerships and welcome a highly productive future of continued collaboration.  Additionally on the agenda this month is a resolution appointing an Assistant Secretary of the Authority.

Departing Staff

On behalf of the Board and staff, I would like to thank all of the interns for their hard work over the last two months.  Last Friday was Aidan Illg’s last day.  Aidan’s work was broadly focused on finance and administration, including reconciling decades-old bond data into a new management platform.  This upcoming Friday will be the final day for Rebecca Vitenzon, Akhil Malladi, and Lizbeth Bautista.  Rebecca’s experience has been invaluable in documenting and supporting the Authority through this transitionary time.  Akhil primarily focused on the Authority’s IT functions. Lizbeth worked with the Legal team on various projects related to policies, public finance, and Climate Bank programs.  We thank Aidan, Akhil, Lizbeth, and Rebecca for their contributions and wish them luck in their upcoming school years.  Ryan Rastegar will continue his internship through September 25 assisting with Climate Bank outreach and engagement.

Respectfully,

Allison Pink
Executive Director