The Effingham Hospital has moved closer to getting its deal for a massive renovation and expansion of the 40-year-old facility.
County commissioners approved a contract that would guarantee the hospital 2 mills per year over the life of its planned 25-year loan through the Department of Housing and Urban Development and also agreed to transfer 3.78 acres of land for the expansion plans.
The hospital has applied for $25 million Build America bonds from HUD, and HUD is expected to act upon the loan application soon. The Build America bonds program expires at the end of the year.
“We finally got HUD off its collective duff and it will consider finishing approval of the application of the loan next week,” said hospital consulting attorney Rusty Ross, “and they will not do it without approval of the county of the final contract.”
For the complete story, see Friday's edition of the Herald.
