Hospital Funding

from a post by Mr. Landry, Chairman HSD
and from information at Townhall Meeting, also viewable on Channel 76

the bids for the hospital construction are due November 9 2010

the funds that are obtained are as follows:


A) $17 million capital outlay from the State of Louisiana

......restrictions are: 1) must be built within 3 miles of Jackson barracks ; 2) must be at least 40 beds; 3) must have all funds to build it and operate it identified; 4) money not available until second half of next year (July 2011)

B) $1.3 million HRSA grant........restrictions are no soft costs and must have approval of use, (this money used on phase 1 site prep)

C) $41 million CDBG funds.....restrictions....only used for items approved by state......state reluctant to give overall approval of soft costs, very heavily monitored and audited and primarily for construction and equipment costs.

D) $10 million New Market Tax Credits......very complicated in order to secure these funds, but a lot less restrictive than the other funding sources.

E) 10 year – 8 mill property tax revenue stream bonded out for $16.2 mill loan for start-up operations cash flow.  The property tax referendum is on the November 2 2010 ballot.  The bids for the hospital are due on November 9 2010.