LONGVIEW (KYTX) - More bond money could be dedicated to an assisted living project in northwest Longview.
Tuesday morning, the city's Cultural Education Facilities Committee set in motion the steps needed for LV Medical Properties III to borrow $1.2 million in bond money to make the final payments on Fountainview Estates, a new 74-unit assisted living center on Lago Trail. Twenty-two of the units are designated for memory care to serve Alzheimer's disease or early on-set dementia patients.
Committee member Mike Clowers, who is an investor, said the money is needed to pay off contractor's retainer fees and debts for the $10.3 million project.
The City of Longview is not obligated to repay the debt.
Committee Chairman Keith Honey says that, before the money can be issued, a public hearing will be held on Feb. 10 at the law offices of Boon, Shaver, Echols, Coleman & Goolsby, LLC, at 1800 NW Loop 281 in Longview.