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Commissioners approve bond conduit for Lima Towers, multiple grants and routine plats; several departmental agreements passed
Summary
The Lucas County Board of Commissioners approved conduit financing for a 200-unit senior housing project in Lima and a package of grants, plats and departmental agreements during a business meeting that also included several budget hearings and personnel actions.
The Lucas County Board of Commissioners on an undisclosed meeting date approved a series of financing, grant and administrative items affecting housing, public safety, public works and county operations.
The board voted to allow the Toledo-Lucas County Port Authority to issue up to $25,000,000 in tax-exempt housing obligations for Lima Towers, a 200-unit senior housing building constructed in 1977, to refinance existing debt and fund capital improvements including flooring, fixtures, energy-efficient appliances, ADA accessibility upgrades, commons-area refurbishing and replacement of the roof, elevators and domestic hot water/residential water heaters. Craig Timer of the Toledo-Lucas County Port Authority said, “The goal of this project is to extend the life of Lima Towers for another 20 years, to provide affordability for current and…
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