City of Alexandria, Virginia
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MEMORANDUM
DATE: JUNE 18, 2026
TO: THE HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL
THROUGH: JAMES F. PARAJON, CITY MANAGER
FROM: KEVIN C. GREENLIEF, DIRECTOR, DEPARTMENT OF FINANCE
DOCKET TITLE:
TITLE
Consideration of a Resolution Authorizing the Issuance of Revenue Bonds by the Industrial Development Authority for The View at Goodwin Living, LLC. [ROLL-CALL VOTE]
BODY
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ISSUE: Resolution approving the issuance of revenue bonds by the Industrial Development Authority to assist The View at Goodwin Living in financing and refinancing the acquisition, design, development, construction and equipping of a significant expansion of its existing campus at 5000 Fairbanks Avenue in the City to include new independent living units, assisted living units, skilled nursing units and memory care units, rehabilitation facilities, a medical clinic, dining facilities, parking improvements, landscaping, amenities and other improvements.
RECOMMENDATION: That City Council adopt the attached Resolution (Attachment 1) as recommended by the Industrial Development Authority.
BACKGROUND: The Industrial Development Authority has previously employed its conduit revenue bond program to assist with the financing and refinancing of capital improvements to The View Alexandria senior living campus. Since the campus is owned and operated by affiliates of Goodwin House, a nonprofit, charitable organization described in Section 501(c)(3) of the Internal Revenue Code, it is eligible for lower interest rate, tax-exempt financing. The Industrial Development Authority's involvement as a pass-thru, conduit issuer of tax-exempt revenue bonds allows the project to benefit from tax advantaged debt financing at no cost or liability whatsoever to the Industrial Development Authority or the City.
DISCUSSION: On June 8, 2026, the Industrial Development Authority held a public h...
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