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April 23, 2019 - 10:48am

Funding Corp approves tax-exempt bonds for renovations at College Village

posted by Howard B. Owens in GCC, College Village, GCEDC, news.

Press release:

The Genesee County Funding Corporation (GCFC) has approved tax-exempt bond financing for a $5.2 million project to upgrade and renovate residential facilities at College Village in the Town of Batavia.

Tax-exempt bond financing will assist projects by the Genesee Community College Foundation (GCC Foundation) Housing Services Inc. at five on-campus residential facilities owned and managed by the GCC Foundation.

The renovations will include updated technology, renovating several suites into modern communal living and learning spaces, updated facilities and amenities, safety improvements and upgrades for disability access. The work will be performed at Birch Hall, Pine Hall, Beech Hall, Oak Hall, and Cedar Hall.

About the Genesee County Funding Corporation (GCFC): GCFC’s mission is to assist local economic development efforts by serving in a conduit financing capacity enabling the issuance of taxable and non-taxable debt to benefit the growth, expansion, ongoing operations and continued viability of nonprofit business enterprises in Genesee County, thereby helping to maintain a sustainable long-term economy.

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