Longview’s Cultural Education Facilities Finance Corp. approved a resolution to allow Fountainview Estates, an assisted living facility, to issue up to $1.2 million in revenue bonds.
The money will allow the facility, which is owned by a group of investors in Longview, to finish construction.
The developer, LV Medical Properties III, would be the guarantor of the bonds that will go to the nearly 52,000-square-foot Fountainview Estates, and the city has no obligation to repay the debt.
Fountainview Estates consists of 52 assisted living units and 22 memory care apartments. Its first residents moved into the facility in December.
