Construction of the new Allen County Hospital remains on schedule, trustees learned at their meeting Tuesday night.
Sub-floor plumbing and electrical work was started this week. Storm and sewer line work will begin next week. And structural steel will arrive mid-July.
A more comprehensive report for the building’s progress to date will be forthcoming, Cris Rivera, ACH chief executive officer, said.
Trustees discussed a $5 million loan for working capital, scheduled to begin the first of 2013. The loan will be secured from Community National Bank. The money is necessary once the hospital breaks ties with Hospital Corporation of America, who currently manages the hospital.
Ken Gilpin, president of Iola’s branch of CNB, said the bank would be very flexible fixing an amortization schedule in repaying the loan.
It was noted in 2010, when talks first began of what would be needed to help the hospital become self-sufficient that interest rates were at 6 percent and financial advisers cautioned time was of essence to work quickly lest those favorable interest rates disappear. Today, interest rates for this kind of financing range from 2 to 3 percent.
Discussions continue with Cerner, Inc. about being the vendor for electronic health records.
“We’re trying to nail things down,” said Larry Peterson, chief financial officer of the hospital.
Trustees approved paying up to $200,000 to make a down payment on the system. They also approved spending up to $20,000 to have BKD, an accounting firm with offices throughout the Midwest, to review the electronic health records contract.
Saturday morning, trustees and select citizens from across the county will convene to work with facilitator Rick Behrens of Public Square Communities, LLC., to develop a mission statement.
