D'Youville College, seeking to capitalize on lower interest rates, is asking the Erie County Industrial Development Agency to issue up to $50 million in new tax-exempt bonds to refinance the school's past debt and support construction of its new Health Professions Hub.
The West Side college wants the agency to refinance more than $35 million in bonds and loans, some dating back as far as 1998. The request would also cover a new $12 million taxable loan to fund the $26 million health building that is under construction at Connecticut and West streets.
Plans by Cannon Design call for a 50,000-square-foot clinical care and counseling facility that will provide students in health care degree programs with hands-on practical experience, while also offering needed medical care in the surrounding, underserved low-income neighborhood.
ECIDA will consider the request at a public hearing at 9 a.m. Aug. 10.
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Construction on the project, a collaboration with Catholic Health System, began in September 2019.
