In March 2007, AIDEA issued $39,435,000 of Community Provider Revenue Bonds to finance the acquisition of land and the construction, equipping and furnishing of a 120-bed residential adolescent treatment center located in Fairbanks.
Boys and Girls Home of Alaska, a subsidiary of Boys and Girls Home and Family Services in Sioux City, Iowa, has partnered with Family Centered Services of Alaska to offer this full continuum of behavioral and mental health care for Alaska youth needing these services.
The new Fairbanks facility is designed for young Alaskans who previously had to leave the state to obtain treatment, and signifies a major advance in Alaska’s campaign to Bring The Kids Home.
Construction of the five building campus, located on 13 acres at the corner of 30th and Lathrop in Fairbanks, is on schedule. The project is expected to be fully operational by December 31, 2008.
The Community Provider Revenue Bonds that were issued for this project are secured solely by the pledge of the borrower, Boys and Girls Home and Family Services, Inc., a 501(c)(3) corporation. The bonds do not constitute indebtedness or other liability of the State of Alaska or AIDEA.