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Pella to Issue Bonds for Hearthstone Project

Posted: Monday, November 26th, 2012 at 6:27 am
Author: KNIA/KRLS News - Brad Gaspelin

A new project is planned for the north side of Pella. Hearthstone has planned a new senior living facility just north of the golf course. The City of Pella will be issuing conduit revenue bonds in an amount not to exceed $10 million, which will cover roughly half the cost of the project. City Administrator Mike Nardini says that the city will not be responsible for paying the debt. Nardini says the city supports this project because of the growing need for housing and senior living facilities.