Sunset Home receives re-financing approval
Tue, 26 Nov 2013 03:08:33 GMT —
Sunset Home in Quincy has received full approval of a re-financed loan from the city for improvement projects.
The re-finance provides funds of up to $6,500,000 dollars from the city.
Sunset Home will use the funding for dining and nursing facilities and also for improvement projects at 3 different facilities, located at 315 N. 8th Street, 428 Washington, and 701 Vermont Street.
The City Council had previously discussed a re-financed loan in October, but the approval was granted Monday night to meet a request from the Home.
"It's a traditional re-financing. Sunset Home is on a deadline for the year's end and they need to get this passed immediately," Alderman Mike Farha said.
A standard $10,000 fee will be paid by Sunset Home for the re-finance.