Seeking to bolster its finances and meet rising demand for dementia and Alzheimer’s care, New Britain’s Jerome Home hopes to break ground next month on a $10-million expansion. Administrators of the 88-year-old nonprofit skilled nursing and assisted living facility, located along Corbin Avenue, are pursuing a borrowing as high as $20 million through the Connecticut Health and Educational Facilities Authority (CHEFA), a quasi-public agency that issues tax-exempt bonds. The borrowing would also refinance approximately $8.8 million of debt related to a 2008 expansion that represented Jerome Home’s initial foray into assisted living. The 62 units built at that time included 16 memory care units.
https://www.hartfordbusiness.com/article/new-britains-jerome-home-eyes-10m-expansion-debt-refi