POUGHKEEPSIE – Vassar College
is going to refinance more than $111 million worth of bonds for construction
projects on the Town of Poughkeepsie campus.
The Dutchess County Industrial Development Agency Board has approved the refunding for the college to secure a more favorable rate, said IDA Executive Director Sarah Lee.
“The original Dormitory Authority of New York State bonds were used to finance various renovation projects throughout the campus,” she said.
The bond refinancing will not exceed $125 million. Bonds through the county and state local development corporations are tax-exempt, meaning the college will save a significant amount money.
