$439,419.45, to be exact. Late last year, Northampton County Council considered applying these proceeds to capital projects at Gracedale. But at the last Council meeting, financial advisers warned that bond counsel might want that money used to refinance bonds for the swaption.
During a Finance Committee meeting yesterday, Doran Hammond recommended freezing the money until the swaption issue is resolved. He noted that $13 million in capitol improvements are underway at Gracedale, thanks to a Guaranteed Energy Savings Agreement proposed last year by County Executive John Stoffa.