University Looks to Buy Apartments

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Anderson University is looking to issue more than $5 million in bonds to purchase the Fair Commons apartments from East Anderson Housing LLC. The Anderson City Council is expected next month to consider the proposal for the complex that provides housing for 150 students. The university has been leasing the property for approximately nine years. The school says Fair Commons has more than 40 units, with room for future expansion.

The Anderson Economic Development Commission has approved the proposal. The city council is expected to vote at its December 11 meeting. Under the plan, the city would have no financial obligation connected to the tax-exempt bonds.

Source: Anderson University