By Charlotte Caldwell
SIDNEY – The Shelby County Commissioners adopted a resolution regarding the sale of the Landings of Sidney’s revenue bonds at a public hearing on April 20.
Joshua Grossman, an attorney at Dinsmore and Shohl, and Jennifer Hicks, executive director of the Landings of Sidney, were present for the hearing.
Grossman explained the planned use of the upcoming issuance of tax-exempt bonds from the county of no more than $20 million, with an estimated issuance of $14,750,000.
The proceeds will go to SLF Sidney, LLC, and SLF Sidney Operations, LLC — also known as the Superior Living Foundation, a Maryland nonprofit — to acquire the Landings of Sidney and make improvements to the furniture, fixtures, equipment and carpeting in the facility. Grossman reiterated that no taxpayer dollars will be pledged or used to pay back the bonds because the bonds are not the general obligation of the county.
This will be the first facility the SLF entities will own as they are fairly new, and Hicks confirmed that there is no new construction or changes to day-to-day operations planned.