RHINEBECK – The Brookmeade Community in Rhinebeck has received the approval of the Dutchess County Local Development Corporation to float up to $30 million in bonds to expand their assisting living and nursing home community.
IDA Executive Director Sarah Lee said the tax-free bonding capacity will provide for development two projects.
“The bond proceeds are going to go toward an adult daycare center as well as to renovate and improve the existing water treatment center on the site,” she said.
The LDC action does not commit any county money toward the project, but rather allows the organization to secure tax-free bonds to help finance it.
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