TERRE HAUTE —
A resolution to support refinancing bonds at Westminster Village passed unanimously at the Terre Haute Economic Development Commission on Wednesday and now advances to the city council.
Jeff Lewellyn, a Terre Haute attorney representing the nonprofit continuing care retirement community, said the resolution represents just one more hurdle to making the refinancing a reality.
By giving its approval, the commission allows the proposal to move forward to the Terre Haute City Council’s sunshine meeting on Aug. 2 for discussion. Depending on the outcome of that meeting, a final vote could be taken at the council’s business meeting on Aug. 9.
“I don’t anticipate any issues at this point,” Lewellyn said of the proposal. No public opposition or negative comments have arisen to date, he added.
In 2006, the city approved about $19 million in economic development bonds for the retirement community, issued at about 9 percent interest, Lewellyn stated in previous meetings. The new bonds could be issued at closer to 6 percent, freeing up funds for future development.
Local & Bistate
Economic Development board OKs bond resolution for Westminster Village
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Vigo County Jail Log: May 21, 2013
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