Jeanne M. StiefelJeanne Stiefel Clark Hill
Jeanne M. Stiefel
Jeanne M. Stiefel is Senior Counsel in the Banking & Financial Services Practice Group of the firm's Princeton office. She has been actively and continuously involved in New Jersey public finance transactions since 1986. Prior to joining Clark Hill, Jeanne was a partner for 19 years at a South Jersey law firm where she served as co-chair of that firm's public finance department. Jeanne serves as bond counsel, underwriter's counsel and trustee's counsel for the issuance of tax-exempt and taxable municipal debt for a variety of public projects and programs for state, bi-state and local issuers, including counties, municipalities, county improvement authorities, and county and municipal utility authorities. Such financings include general obligation bonds and bond anticipation notes, revenue bonds (conduit, lease purchase and pool loan structures) and refunding bonds. Jeanne has a detailed knowledge of New Jersey's Local Bond Law, County Improvement Authorities Law, and Municipal and County Utilities Authorities Law and has also served as bond counsel for various borrowers through the New Jersey Environmental Infrastructure Trust financing program.
Jeanne’s practice also focuses on complex structured financing transactions for higher education student loan programs; toll road and other transportation authorities; charter school facilities; and not-for profit health care organizations including hospitals, skilled nursing and assisted living facilities, and continuing care retirement communities.
Jeanne's non-profit transactional representations include:
- Seller Counsel - $20.5M asset sale for a 501(c)(3) continuing care retirement community (including negotiation of asset purchase/operations transfer/shared services agreements and related transaction documents and securing approval from New Jersey Office of the Attorney General exempting asset sale to a for-profit provider as exempt from cy pres review) and redemption of outstanding tax-exempt New Jersey Economic Development Authority Revenue Bonds.
- Senior Lender Counsel – $30.0M senior bank loan (including negotiation of senior loan agreement and related security agreements, intercreditor agreement, and construction monitoring and disbursement agreement) to a limited liability company to facilitate its purchase of New Jersey Economic Development Authority Qualified School Construction Bonds, the proceeds of which were used to finance acquisition of land and construction and equipping of a Pre-K through 8 charter school.
- Borrower Counsel - $7,864,000 New Jersey Health Care Facilities Financing Authority Revenue Bonds, the proceeds of which were loaned to a 501(c)(3) hospice provider and used to finance construction of the first in-patient hospice facility in South Jersey.
- Guarantor Counsel - $27,200,000 New Jersey Health Care Facilities Financing Authority Refunding Bonds guaranteed by a 501(c)(3) Hospital Foundation pursuant to the terms of an amended and restated Foundation Support Agreement.
- Borrower Counsel – Negotiation on behalf of a 501(c)(3) senior housing provider of bond insurer waivers/consent/forbearance for Loan Agreement financial and operational covenant defaults and negotiation of Loan Agreement amendments related to outstanding New Jersey Economic Development Authority Revenue Bonds.
In healthcare law, Jeanne counsels healthcare providers regarding certificate of need and licensure matters. She also provides regulatory representation in connection with obtaining and maintaining certificates of authority to develop and operate continuing care retirement communities and continuing care at-home programs.
Jeanne has presented seminars on development and financing issues for a variety of senior housing projects, including "Capital Financing and the Bonding Process" and "Is Service Diversification in Your Facility's Future: Regulatory and Legal Considerations When Expanding Into Delivery of In-Home Care Using the Health Care Service Firm Business Model."