WVUH Board OK's financing for construction [The Dominion Post, Morgantown, W.Va.]
(Dominion Post (Morgantown, WV) Via Acquire Media NewsEdge) Aug. 31--The WVU Hospitals Board of Directors authorized bond financing for construction projects in Morgantown and Parkersburg.
The board unanimously approved the move during its Friday meeting.
In total, $200 million is being financed through tax exempt methods, said Mary Jo Shahan, chief financial officer. That money includes $158 million for the Ruby Memorial Hospital expansion project and $42 million for the work at the Camden Clark Medical Center.
That money includes capitalized interest and cost of financing, according to Shahan.
Then, $50 million is being financed for WVUH in taxable bonds for the new ambulatory care center at the University Town Centre and the proposed parking garage next to Mountaineer Station off Van Voorhis Road, Shahan said.
President and CEO Bruce Mc-Clymonds said the tax exempt bonds will cover the costs for the first three years of the project. There is still about $70 million more that needs to be financed.
The first step in the project is to create a new combined Rosenbaum Family House and Child Development Center, which is under construction. The two facilities have to move to make room for a new 10-story tower at Ruby.
McClymonds said construction has slipped a month behind schedule, mostly due to weather delays. They are now looking at the facility being completed sometime in mid-January.
Work also continues on the new entryway for Ruby, with crews installing a new canopy. McClymonds said that in November work will start to remodel Ruby's entrance area.
(c)2013 The Dominion Post (Morgantown, W.Va.)
Visit The Dominion Post (Morgantown, W.Va.) at www.dominionpost.com
Distributed by MCT Information Services
[ Back To Technology News's Homepage ]