CHAMBERSBURG, Pa. - Menno Haven Inc. received approval from the Franklin County Industrial Development Authority Monday to proceed with issuing up to $30 million in bonds for an expansion of its Northfield campus that includes a 53-unit apartment building and a community center.
The 11-member board unanimously approved Menno Haven's proposal to issue the bonds, which still has to be approved by the Pennsylvania Department of Community and Economic Development, said David Sciamanna, treasurer for the FCIDA. The vote came after a Tax Equity and Fiscal Responsibility Act hearing, he said.
"They're borrowing money, the interest of which is tax-exempt for the bondholders" and the borrowing process required a public hearing, Sciamanna said.
Northfield, which is a part of Menno Haven's Scotland Avenue complex on the north edge of the borough, now has 75 villas and five more to be built, said Wendy Cowan, Menno Haven's chief officer for marketing and public relations. The Northgate apartment building and community center are the first phase of an expansion of Northfield at the retirement community that will cost an estimated $23 million.