Still Hopes Finances Improvements with New JEDA Bonds

Creates Four New Jobs, Retains 387 Jobs

WEST COLUMBIA, SC –  The Still Hopes Episcopal Retirement Community has closed on a $30 million bond issue through the South Carolina Jobs-Economic Development Authority (JEDA) that refinances prior debt while paying for improvements at the West Columbia senior living campus.

The bond issue refinances 2004 bonds issued at a higher rate to build 125 residences, a common area, a new dining area, expanded kitchen, new community space and community entrance at Still Hopes.

The tax-free funding also will be used to finance a “Main Street” project to improve and enhance the community common space at Still Hopes, which was founded in 1977 on a site donated by the Guignard family that had owned it since the early 19th Century. Still Hopes continues its affiliation with the Episcopal Diocese and is a continuing care retirement community with nearly 400 residents.

Still Hopes employs approximately 387 people and four new jobs will be created within 24 months of completion of the project.

“JEDA bond funding is again helping us serve our mission of providing a faith-based community where life will be rich and full for our residents while exemplifying a new expectation for senior living,” said Still Hopes CEO Danny Sanford.

“Serving the senior population of our state is a growing challenge. Helping to refinance previous commitments and finance new improvements at Still Hopes is a way we can help this community continue the tradition of service it has built for over 37 years,” said Bond Counsel Kathy McKinney at Haynsworth Sinkler Boyd, P.A., in Greenville.

“Providing tax-exempt financing for a new project while lowering the costs for prior improvements makes this a particularly gratifying bond issue to complete, especially for such a distinguished organization as Still Hopes,” said Harry A. Huntley, CPA, Executive Director of JEDA in Columbia.

About JEDA

For more than 30 years, JEDA has promoted the business and economic welfare of South Carolina by assisting in the financing of public and private projects throughout the Palmetto State. JEDA serves as a statewide conduit issuer of special obligation revenue bonds and acts on behalf of the borrower to access financial markets and capital. Since its creation in 1983, JEDA has facilitated the issuance of 446 bonds for over $8.1 billion and resulting in the creation and retention of more than 213,000 jobs.

For more information regarding JEDA, please visit our website at www.scjeda.com or contact 
Harry A. Huntley, CPA, Executive Director, at (803) 737-0268 or [email protected].