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Shakopee approves conduit refunding bonds for Benedictine Living Community
Summary
The Shakopee City Council on Sept. 16 approved a resolution authorizing conduit revenue refunding bonds for Benedictine Living Community of Shakopee LLC, allowing the borrower to refinance prior 2018 bonds for the existing senior care facility; the city will have no financial liability, staff said.
Shakopee City Council voted Sept. 16 to adopt a resolution enabling Benedictine Living Community of Shakopee LLC to issue conduit revenue refunding bonds to refinance previously issued bonds for the existing senior care facility at 1705 Windermere.
City staff and bond counsel told the council the project consists of 116 independent living apartments, 43 assisted‑living units and 24 memory‑care…
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