RDA Recommends Refinancing Of Marian Redevelopment Revenue Bonds

The Redevelopment Authority is recommending that the Fond du Lac City Council approve two resolutions that will allow Marian University to refinance two Redevelopment Revenue Bond issues. Community Development Director Dyann Benson says Bonds issued in 2014 for $4.2 million allowed Marian to purchase and redevelop the former Nielsen Building in Downtown Fond du Lac. That bond issue also helped pay for renovation of the building for Marian’s College of Nursing. The 2010 Bond Issue helped pay for the purchase of an apartment building. The $2 million bond issue allowed Marian to buy the Cedar Creek Apartments for renovation and to do some Information Technology improvements. The Redevelopment Authority had a public hearing on the two bond resolutions yesterday. Their recommendation for approval goes to the City Council next Wednesday.