The New York City Capital Resource Corp. yesterday approved a $17 million recovery zone facility bond deal to partially finance the construction of a medical office building in Queens.

Fleet Financial Group Inc., a five-year-old real estate development and management firm, plans to use the bond proceeds to pay part of the costs to build and equip a $42.3 million, 80,000-square-foot facility in Flushing to be called North Queens Medical Center. The city was allocated $121.7 million of the tax-exempt private-activity bonds under the American Recovery and Reinvestment Act.

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