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Posted: June 16, 2020
Roosevelt & Cross arrange $49.082 million total for Independent Group Home Living Program
Manorville, NY The Project Finance Division professionals of Roosevelt & Cross have arranged and closed a total of $49.082 million in financing for Independent Group Home Living Program, Inc. (IGHL).
The financing is comprised of $35.082 million in Tax-Exempt and Taxable Revenue Bonds, Series 2020 from Suffolk County Economic Development Corp. and $14 million in working capital/bridge lines of credit.
IGHL utilized the proceeds of the facilities to finance and/or refinance the following:
- 20 separate capital projects across Suffolk County;
- Certain outstanding indebtedness of the borrower; and
- To establish a working capital/bridge lines of credit.
IGHL is a not-for-profit agency dedicated to the enrichment of the lives of people with intellectual disabilities. IGHL provides educational, clinical and residential services for intellectually disabled individuals in Nassau and Suffolk Counties.
The primary programs provided by IGHL are: Intermediate Care Facilities (ICFs); Individual Residential Alternatives (IRAs); as well as day habilitation, prevocational services, supportive employments, and center-based activities, in order to provide intellectually disabled individuals with the greatest flexibility in choosing their care.
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