TO: Mayor and Members of City Council
THRU: Kelly Olivera, Assistant City Manager
FROM: Christopher Cauley, MPA - Director of Economic and Community Development
DATE: February 10, 2025
RE:
Title
Public Hearing on Authorization of the Issuance of Private Activity Bonds not to Exceed $175,000,000 by the Public Finance Authority Relating to the Acquisition of an Educational Training Facility Located at 3725 Ramsey Street
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COUNCIL DISTRICT(S):
Council District(s)
District 3
b
Relationship To Strategic Plan:
GOAL II: The City of Fayetteville will have a Responsive City Government supporting a diverse and viable economy.
GOAL III: The City of Fayetteville will be a city invested in Today and Tomorrow.
GOAL IV: The City of Fayetteville will be a highly desirable place to live, work and recreate.
Executive Summary:
Lindenwood Education System, a Missouri nonprofit corporation headquartered in St. Charles, Missouri is requesting the City hold a Public Hearing and adopt a resolution authorizing the issuance of not more than $175,000,000 in Private Activity Bonds issued by the Public Finance Authority (PFA). The project involves the acquisition of an educational training facility located at 3725 Ramsey Street. The issuance of bonds is a transaction between the PFA and the Borrower and does not expose the City to any financial risk. City Council is asked to hold a Public Hearing and adopt the resolution authorizing the issuance of not more than $175,000,000 in Private Activity Bonds issued by the PFA.
Background:
Lindenwood Education System, the non-profit parent entity of Lindenwood University and Dorsey College, is excited to announce the newest anticipated addition to the System that will expand its reach to serve more students with the addition of Ancora Education. Ancora is a dynamic career focused group of schools serving nearly 7,000 students annually at its on-ground locations, online, or through its professional training divisions. Ancor...
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