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Mennonite Village seeks tax-exempt financing; city asked to reestablish hospital facility authority
Summary
Mennonite Village presented a multi‑phase senior‑living expansion with a proposed tax‑exempt bond financing (about $99 million) and asked Albany to reestablish its hospital facility authority so the nonprofit can issue bonds through it; staff outlined procedural steps for January approval.
Mennonite Village representatives told the Albany City Council they plan a multiyear campus expansion and asked the council to reestablish the city’s hospital facility authority so the nonprofit can access tax‑exempt bond financing.
Diane Hood, CEO of Mennonite Village, described a master plan that includes 60 cottages (30 duplexes), a new memory‑care building with 24 private beds and a campus production kitchen. "Our current project is 60 cottages in 30 duplexes," Hood said, and staff noted the development is pre‑sold at about 46.66%…
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