POUGHKEEPSIE – Bard College is seeking the issuance of Dutchess County Local Development Corporation bonds to fund five new dormitories and a performance lab at its Annandale-on-Hudson campus.
College officials appeared before the LDC board on Tuesday.
LDC Executive Director Sarah Lee said the liberal arts college is looking to grow its on-campus student housing and study space. The school is seeking an estimated $155 million in tax-exempt bonds.
“To finance the construction of north campus residences consisting of five buildings and then the fifth building will be a multi-purpose hall with student spaces and classrooms. The bond will also be used to finance the construction of a performing arts lab,” she said.
The LDC board approved a preliminary inducement resolution. The next step is to hold a public hearing on the proposal before the board takes final action on the request.