Best Friends Animal Society seeks bonds for renovation

Best Friends Animal Society is seeking $25 million in tax-free bonds from Kane County to fund the renovation and building of new facilities at the sanctuary. If approved, the county would only be the issuer, or conduit of the bonds, with no financial liability, since only government entities, and not charitable foundations, can do so. The Society currently has over 400 staff members living in Kanab. According to estimates presented at the October 16 commission meeting, Kanab alone receives an estimated $14,550,000 in revenues from those residents, and that’s expected to grow with the new facilities project. Last year Best Friends brought in 30,000 visitors, plus an additional 8,500 volunteers; with an estimated economic impact of $10,500,000. Southern Utah News