[10/10/18] Hospital USDA Loan
The Lake Chelan Community Hospital Board of Directors is hoping to get a letter this week from the U.S. Department of Agriculture saying the loan is a go. It’s a 22-and-a-half million dollar loan that represents the final piece of the funding puzzle for the new hospital. Hospital Board Chair Mary Signorelli says it’s been a long process, longer than they anticipated:
Interim Hospital CEO Steve Patoni says once the letter is in hand, actual work on the new hospital will begin to ramp up:
That should take about nine months, at which time they hope to break ground. But the length of the USDA loan process cost them a lot of time and, Signorelli says, put off a lot of their work:
Once they start building, construction on the 44 million dollar facility is expected to take about 18 months; that would put an opening date on the new hospital around the start of 2021.