Bonds will be issued for new ERCC project
ELKINS – The Randolph County Commission unanimously approved the issuance of Randolph County Building Commission revenue facility bonds at a special meeting on Friday afternoon.
The approval states that bonds worth $2,500,000, will be used for a Elkins Regional Convalescent Center, Inc., project to add private rooms and a new unit.
The ERCC plans to add a state of the art therapy addition to the building that will include 15 new private rooms. Officials also plan to add an Alzheimer’s unit that will feature special programming for those in its care.
After completion of the renovation, the number of private rooms in the long-term unit will be increased as well.
The bonds are public bonds that are being backed by the Grant County Bank, based out of Petersburg, and being loaned directly to the ERCC. Grant County Bank will hold the deed of trust.
The loan is a 16-year straight loan, which means there is no variability and a straight interest rate of 3.99 percent.
The Randolph County Building Commission held a public hearing on Thursday on the issue, with no comments being made against the project.
Upon signing the issuance, Commission President Chris See said that he appreciated all the work done by everyone involved.
“I thank you all for the work you have done,” See said. “I think it is great what you are doing and appreciate your hard work.”