NORMAN — Cleveland County commissioners on Monday approved up to $15 million in tax-exempt and taxable bond financing for demolition and reconstruction of the Whispering Pines Nursing Center, 501 E. Robinson St.
The action came by the board, sitting as trustees of the county’s Public Facilities Authority. The bonds are backed by the 4.5-acre property and its revenues.
Gordon Jensen Health Care, a nonprofit health care company, bought the vacant nursing home this past year and planned to renovate the building. They later determined that it would be better to rebuild on the site.
The company operates nursing homes and assisted living centers. Commissioner Rod Cleveland said they would create about 120 jobs with the facility, which he thinks will be an assisted living facility.
Lindsay Bailey, legal counsel to the county trust, said the bonds are a blend of taxable and tax-exempt and that it was not likely the entire $15 million that was authorized would be utilized.
The nursing center, formerly Rosewood Manor, lost its certification to receive Medicare and Medicaid reimbursements in 2009, forcing more than 128 residents to relocate.
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