St. John’s hospital looks to borrow $32 million
by Duane Williams, KLCB-KTNY Radio
September 21, 2011
St John’s Lutheran Hospital is looking to borrow $32 million dollars for the new hospital facility.
In April of this year, the St. John’s Board of Trustees elected to change the financing for the new hospital project from USDA to HUD. There have been hurdles and delays, but the project is still moving forward, according to Bill Patten, CEO at St. John’s. According to Patten, they did have to re-apply to HUD because HUD requires a different application format than USDA.
The HUD application process has taken longer than anticipated, so realistically looking at a December or January, with everything still looking positive for a spring 2012 construction start assuming the board is comfortable taking on this debt, especially in light of all of the negative economic indicators out there, and HUD ultimately approves the loan, according to Patten.
Fundraising for the project continues. The Foundation Board and Capital Campaign Committee are within $200,000 of their $1.5 million dollar goal. "Once the HUD application is approved, we will increase our fundraising efforts," according to KC Hoyer, Executive Director of the Hospital Foundation.
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Story by Duane Williams, KLCB-KTNY Radio, www.todaysbestcountryonline.com e-mail: klcb@frontiernet.net.
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