SAN FRANCISCO: Napa County is giving The Meadows of Napa Valley a helping hand as the retirement community prepares to break ground in a few weeks on a major expansion.
Last week, the county Board of Supervisors approved up to $72 million in tax-exempt revenue bonds for the project. The Meadows is located on 20 acres in south Napa.
But the county won’t issue the bonds. That will be done by the Association of Bay Area Governments Finance Authority for Nonprofit Corporations, of which the county is a member. The concept is that the nonprofit benefits from lower interest rates usually available only to government agencies, and the public benefits from the project…