Public input sought on tax-free bonds

The Columbia City Council will take public comment and vote on whether to approve the issuance of tax-free bonds to a nonprofit organization at tonight’s council meeting. If approved, Tapestry Group, based in Omaha, Neb., would use the bonds to purchase Candlelight Lodge, an assisted living facility on Business Loop 70 West. The group obtained a recommendation of approval on Sept. 6 from Boone County’s Industrial Development Authority.

The council’s ruling, like the Industrial Development Authority’s, is considered a recommendation to the Boone County Commission and is not binding.

“The city will advise the county as to whether it’s an appropriate project, but there is no decision-making authority regarding the issuance of the bonds,” Fourth Ward Councilman Jim Loveless said.

He added, however, that the county cannot issue the bonds if the council votes against the recommendation.

Loveless will look at Tapestry’s plans for Candlelight and whether they are appropriate for the city. Tapestry’s goals include maintaining Candlelight’s affordability for middle-income senior citizens and adding 16 residential units to the facility.

Fifth Ward Councilwoman Laura Nauser said she will consider Tapestry’s proposal in light of the city’s goals.

“There is a need in our community and in others for affordable senior housing,” she said. “If Columbia and Boone County want to attract seniors, we’re going to have to have facilities in our marketplace that are attractive to them.”

Sixth Ward Councilwoman Barbara Hoppe and Second Ward representative Chris Janku will both be looking at the criteria of issuing tax-free bonds in their ruling on the project.

The criteria considered for tax-free bonds include stimulating the regional economy, creating long-term employment opportunities and whether more conventional financing is available.

While Janku said the project itself is excellent, he also said there is a policy question at stake. He will look at whether tax-free bonds should be issued for projects like this.

Third Ward Councilman Bob Hutton said he has further concerns about the bonds.

“We have to be very careful about approving things like this because we haven’t done much of it in the past,” he said. “That’s what makes this one difficult because this is an out-of-town group coming in and basically wanting to remodel. How is that fair to other senior facilities or other local businesses in town?”

After the council’s vote, the case will go before the Boone County Commission for a final decision.