TEFRA Notices

Notice of TEFRA Public Hearing for RWJBarnabas Health Financing on March 26, 2026. 

 

NOTICE OF PUBLIC HEARING

NEW JERSEY HEALTH CARE FACILITIES

FINANCING AUTHORITY

  

The New Jersey Health Care Facilities Financing Authority (the “Authority”) will hold a public hearing at its regular meeting on Thursday, March 26, 2026 at 10:00 a.m. at its offices at Station Plaza, Building No. 4, 22 South Clinton Avenue, Trenton, New Jersey for the purpose of providing a reasonable opportunity for interested persons to express their views regarding a plan of finance pursuant to which the Authority may issue one or more series of its tax-exempt qualified 501(c)(3) bonds (the “Bonds”) for the benefit of the Borrower identified below to finance the Projects more fully described below.

Interested persons who wish to provide information and make comments regarding the proposed issuance of the Bonds may appear in person or by attorney at the public hearing or participate in the public hearing virtually at https://www.nj.gov/njhcffa/meeting/virtual.html.  Interested persons may also submit written information and comments to the Authority regarding the proposed issuance of the Bonds by sending such written information and comments to the New Jersey Health Care Facilities Financing Authority, P.O. Box 366, Trenton, NJ 08625, or emailing such information and comments to TEFRAcomments@njhcffa.com.  Any such written information and comments must be received by the Authority by no later than 9:00 a.m. on March 25, 2026.

 

Borrower: 
RWJ Barnabas Health, Inc., a New Jersey nonprofit corporation, and/or one or more of its affiliates described below (the “Affiliates”)

 

Project Locations:
Barnabas Health Medical Group, P.C.
200 South Orange Avenue
Suites 201 and 232
Livingston, Essex County, New Jersey

Clara Maass Medical Center
Saint Barnabas Realty Development Corporation
1 Clara Maass Drive
Belleville, Essex County, New Jersey

Community Medical Center
99 Route 37 West
Toms River, Ocean County, New Jersey

Cooperman Barnabas Medical Center
94 & 112 Old Short Hills Road
Livingston, Essex County, New Jersey

Jersey City Medical Center
355 Grand Street
Jersey City, Hudson County, New Jersey

Monmouth Medical Center
300 Second Avenue
Long Branch, Monmouth County, New Jersey

Monmouth Medical Center – Fort Monmouth Campus
100 Pearl Harbor Road
Tinton Falls, Monmouth County, New Jersey

Monmouth Medical Center – Southern Campus
600 River Avenue
Lakewood, Ocean County, New Jersey

Newark Beth Israel Medical Center
201 Lyons Avenue
Newark, Essex County, New Jersey

Robert Wood Johnson University Hospital
One Robert Wood Johnson Place
New Brunswick, Middlesex County, New Jersey

Rutgers Cancer Institute of New Jersey
165 Somerset Street
New Brunswick, Middlesex County, New Jersey

Robert Wood Johnson University Hospital at Hamilton
One Hamilton Health Place
Hamilton, Mercer County, New Jersey

Robert Wood Johnson University Hospital Rahway
865 Stone Street
Rahway, Union County, New Jersey

Robert Wood Johnson University Hospital Somerset
110 Rehill Avenue
Somerville, Somerset County, New Jersey

Trinitas Regional Medical Center
225 Williamson Street
Elizabeth, Union County, New Jersey

 

Project Descriptions:
To provide funds through the issuance, in one or more series, of the Bonds in an aggregate principal amount not exceeding $1,750,000,000, which will be used by the Borrower, together with other available moneys, if any, to:

  1. finance and/or reimburse the Borrower and/or its applicable Affiliates for the costs of the planning, design, development, acquisition, construction, equipping, expansion, furnishing and/or renovation of one or more of the following capital projects:
    1. at Barnabas Health Medical Group, P.C., internal construction and renovation to create new medical office space, including additional examination rooms, as part of an expansion of its urology services;
    2. at Clara Maass Medical Center, (i) an enhancement of its Behavioral Health services, including the relocation of behavioral health beds to create a unified service by relocating its Administration and Human Resources departments currently occupying adjacent space, and (ii) installation of fire suppression equipment to make the sprinkler system compliant with applicable code regulations;
    3. at Community Medical Center, (i) installation of fire suppression equipment to make the sprinkler system compliant with applicable code regulations, (ii) expansion of its Residency Academic Program facilities to accommodate 58 resident physicians, including new conference/class rooms, offices and call rooms, (iii) renovation and construction of office suites to support the relocation of hospital support departments, (iv) demolition of various existing buildings on the campus, (v) construction of 346 space temporary parking lot inclusive of lighting and vehicle charging stations, (vi) demolition of an existing visitor parking garage, and vii) construction of a new six level visitor parking garage;
    4. at Cooperman Barnabas Medical Center, (i) conversion of approximately 7,000 square feet of the fourth floor of the Melchiorre Cancer Center to gynecologic cancer and pelvic surgery, (ii) installation of a new x-ray system in the existing procedure room of Cardiac Catheterization Lab 6, and relocation of the women’s locker room and creation of a new storage room in connection therewith; (iii) construction of a new approximately 134,533 square foot, five floor Cancer Center to unify and accommodate the facility’s adult outpatient oncology services into a standalone facility and a six level parking garage, and (iv) relocation of physical therapy unit and laboratory to accommodate the expansion of surgical services;
    5. at Jersey City Medical Center, (i) conversion of a former 36 bed behavioral health unit to accommodate an expansion of the medical surgery unit, (ii) build out of two operating rooms and related surgical support facilities, and construction of two operating room shells for future completion and use as operating rooms, (iii) renovations to existing areas to create new inpatient beds, (iv) renovations and expansion of the Emergency Department and surgery services, (v) renovations to an offsite health center to house Jersey City Medical Center’s Antenatal Testing Unit and an expanded prenatal clinic with OB/GYN and women’s specialty physicians, (vi) creation of a four-bed inpatient Pediatric Unit co-located with the Pediatric Emergency Department, (vii) renovations to an existing building to accommodate the consolidation of several offsite leased administrative offices within the vicinity of Jersey City Medical Center, (viii) the relocation of vascular and pulmonary outpatient services to an offsite location to permit the expansion of the current Catheterization Suite to include a fourth laboratory and hybrid operating room, (ix) renovations to an existing Post-Partum Unit to provide private patient rooms, and (x) construction of new surface parking lot on the campus of Jersey City Medical Center;
    6. at Monmouth Medical Center, (i) installation of fire suppression equipment to make the sprinkler system compliant with applicable code regulations, (ii) replacement of four obsolete automatic transfer switches which are part of the emergency power system for the Medical Center to comply with applicable code regulations, and (iii) repair of structural damage to the building facade to remediate a current safety issue;
    7. at Monmouth Medical Center – Fort Monmouth Campus, construction of a new approximately 150,000 square foot, five floor Cancer Center and Ambulatory Care Pavilion containing outpatient oncology services and general adult and pediatric outpatient services;
    8. at Monmouth Medical Center – Southern Campus, installation of fire suppression equipment to make the sprinkler system compliant with applicable code regulations;
    9. at Newark Beth Israel Medical Center, (i) upgrading/replacement of the emergency power generators to facilitate current and future emergency power needs, (ii) installation of fire suppression equipment to make the sprinkler system compliant with applicable code regulations, (iii) construction to replace existing food service facility in the renovated lobby with a new full food service facility, (iv) renovation and expansion of the Emergency Department, (v) a multi-story infill addition to accommodate the expansion of the imaging and surgical services and a catheterization laboratory and a new main lobby and centralized registration area, (vi) renovation and upgrading of the kitchen serving and dining area, including the installation of new equipment, mechanical, electrical and plumbing infrastructure upgrades and finishes, (vii) renovations to create private inpatient medical surgery rooms and private inpatient critical care rooms, and (viii) structural and deck repairs to the staff and visitor parking garage;
    10. at Robert Wood Johnson University Hospital in New Brunswick, (i) various parking garage and deck renovations, repairs and upgrades, (ii) upgrading of the current electrical power distribution system to make the system compliant with applicable code regulations, (iii) replacement of radiology imaging equipment damaged as a result of a water leak, (iv) expansion of the Rutgers Cancer Institute of New Jersey (the “Institute”) through the construction of a comprehensive care center on certain real property located in the City of New Brunswick, New Jersey, that will include (a) a 12-story, approximately 512,000 square foot building consisting of outpatient care, inpatient care and research facilities, (b) enclosed aerial walkways from the new building connecting to existing buildings occupied by the Institute and Robert Wood Johnson University Hospital, Inc., an affiliate of the Borrower, and an adjacent parking garage, (c) a loading dock and loading area in the lower level of the adjacent parking garage to serve the new building, and (d) certain renovations to the existing Institute building, (v) construction of a new 37,000 square foot, two story central utility plant located within the lower levels of the new parking garage of the Institute to support the entire heating, cooling, and power demands of the Institute, (vi) interior construction of approximately 200,000 leased square feet within a new 230,000 square foot, fifteen-story medical office building constructed on the hospital campus to be used for the consolidation of several outpatient services from various different locations on the hospital campus, and (vii) a multi-story infill addition to accommodate Surgical Suite addition and renovation, Central Sterile Processing replacement and Support Department expansion;
    11. at Robert Wood Johnson University Hospital at Hamilton, construction of two cardiac catheterization labs to provide elective angioplasty services;
    12. at Robert Wood Johnson University Hospital Rahway, (i) renovation of an existing cardiac catheterization lab, control room and associated support areas, and (ii) installation of fire suppression equipment to make the sprinkler system compliant with applicable code regulations;
    13. at Robert Wood Johnson University Hospital Somerset, construction of a two-story addition to existing inpatient building to support new inpatient private medical surgery expansion as well as a two-level garage expansion;
    14. at Trinitas Regional Medical Center, (i) replacement of two coil circuits and compressors to restore HVAC capabilities to patient areas, and (ii) installation of equipment and other necessary assets to remediate the lack of fireproofing for the building structure;
    15. for the Saint Barnabas Realty Development Corporation, purchase of the Medical Office Building located at 1 Clara Maass Drive, Belleville, Essex County, New Jersey; and
    16. all infrastructure improvements, relocations and modifications and all other work, materials, equipment and appurtenances necessary therefor or related to certain of the projects described in clauses (A) through (O) above; and
  2. acquire and install various items of capital equipment at one or more of the above locations for use by the Affiliates of the Borrower and all infrastructure improvements, relocations and modifications and all other work, materials and appurtenances necessary therefor or related thereto; and
  3. refund, redeem, retire and/or legally defease all or a portion of one or more series of the following currently outstanding bonds (the “Refunded Bonds”) issued by the Authority: (i) Revenue and Refunding Bonds, RWJ Barnabas Health Obligated Group Issue, Series 2016A, (ii) Revenue and Refunding Bonds, RWJ Barnabas Health Obligated Group Issue, Series 2019B-2, and (iii) Revenue and Refunding Bonds, RWJ Barnabas Health Obligated Group Issue, Series 2019B-3; and
  4. fund capitalized interest on all or a portion of the Bonds; and
  5. fund a debt service reserve fund for the Bonds, if necessary, and
  6. pay all or a portion of the costs of the issuance and sale of the Bonds.

The proceeds of the Refunded Bonds were used primarily to provide funds for the financing and/or refinancing of various projects for the Affiliates, which projects encompassed the acquisition, construction, reconstruction, equipping, renovating and repairing major portions of acute care hospitals, other health care related facilities and other facilities located at the campuses of such entities from time to time over the prior 25 years.

 

Maximum Principal Amount of the Bonds
$1,750,000,000

            THIS FINANCING OF THE NEW JERSEY HEALTH CARE FACILITIES FINANCING AUTHORITY IS NOT AN OBLIGATION OF THE STATE OF NEW JERSEY, NOR ANY COUNTY OR MUNICIPALITY THEREOF, EXCEPT THE AUTHORITY.

            This notice is published in accordance with the public notice requirements of Section 147(f) of the Internal Revenue Code of 1986, as amended, and regulations promulgated thereunder, as modified by Internal Revenue Service Revenue Procedure 2022-20.