The purpose of the Hospitals and Higher Education Facilities Authority of Philadelphia is to provide funds through the issuance of revenue or special obligation bonds and notes to assist non-profit hospitals in projects determined to be primarily for the health, safety and welfare of the people in the Philadelphia area.

We serve non-profit institutions including hospitals, higher educational institutions, long-term care and assisted-living providers, mental health and mental retardation residence facilities and secondary schools obtain low-cost, tax-exempt financing and re-financing for a variety of needs including new construction, renovations, equipment purchases and working capital. The Authority is also willing to consider financing for projects not listed above.

The governing body of the Authority is a Board consisting of five members appointed by an affirmative vote of two-thirds of all members of City council from nominations made by the Mayor of the City of Philadelphia. Members of the Board are appointed for staggered five-year terms and each serves until death, disqualification, resignation, removal or appointment of a successor.

Our Mission

“To provide quality service through sound operations to borrowing institutions, bondholders, and to the community at large through the issuance of debt on behalf of not-for-profit regional institutions. We will actively monitor the debt, participate in troubled situations and be involved in all aspects of community healthcare and education issues to respond to changes in the encompassing spectrum of the healthcare, education and not-for-profit organization markets.”

Our Corporate Culture

We affirm that in all of our business activities we will: continually seek to improve quality; embrace diversity; and always seek to enhance the health and well being of our community.

Vital Statistics

Number of financings last 10 years: 27
Average size of financings last 10 years: $60,069,445

Some of our clients:

• Centralized Comprehensive Human Services, Inc.
• Chestnut Hill College
• Children’s Hospital of Philadelphia
• Community College of Philadelphia
• Magee Rehabilitation Hospital
• Philadelphia MH/MR Acquisition Project
• Temple University Health System
• The Philadelphia Protestant Home
• The Philadelphia School
• Thomas Jefferson University Health System
• Wills Eye Hospital

Affiliations:

• Delaware Valley Healthcare Council of the Hospital & Healthsystem Association of Pennsylvania (DVHC, HAP)
• Greater Philadelphia Chamber of Commerce
• National Association of Health & Educational Facilities Finance Authorities (NAHEFFA)