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Foley Tax Financing District for Memory Care Facility

Foley Tax Financing District for Memory Care Facility Click to Enlarge Photo: Xiaoming Zhao, Photos.com

Jul 11, 2012 at 7:36 am

FOLEY, MN (KNSI) - The Foley City Council has created a tax increment financing district to help build a new memory care facility.

The city will pay about 169-thousand dollars plus interest to the developer of the 18-unit facility that will house people with Alzheimer's disease, memory loss and dementia. It will have two nine-unit wings, and provide around-the-clock care.

An eight-unit apartment building on the site is also being upgraded, and garages are being added.

The total cost of the project is two-and-a-half million dollars. It will create between 25 and 30 jobs.

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