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Board approves resolution to tee up $70M industrial revenue bonds for Virginia Home project
Summary
The board approved a resolution to enable issuance of up to $70 million in tax‑exempt industrial revenue bonds for the Virginia Home project; the approval authorizes the financing step only and does not commit county or EDA funds or pre‑empt land‑use or special‑exception reviews.
The Board of Supervisors voted Sept. 11 to approve a resolution that prepares the financing path for a new Virginia Home long‑term care facility. Brandon Turner presented the financing proposal and said the request was limited to the financing component. "The Virginia home is looking to issue up to $70,000,000 in tax exempt industrial revenue bonds," Turner said, and he described the bonds as conduit financing to be issued through the Economic Development Authority and to be purchased by…
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