County Weighs OK on Geisinger
By Anne Danahy, The Centre Daily Times, State College, Pa.
Mar. 13–Geisinger Health System wants to issue up to $200 million in bonds and will ask the Centre County Board of Commissioners for approval this morning.
Of the $200 million, $80 million will be used to refinance current bonds. The other $120 million will pay for new or updated equipment and facilities, including the new outpatient services facility Geisinger plans to open in Grays Woods. Commissioners will hold a hearing on the bonds at 9:30 a.m. and could vote on giving approval during the meeting after the hearing.
The county is not involved in issuing the tax-free bonds, but commissioners’ approval is required under state and federal law.
Geisinger has to get approval from commissioners in 15 counties where Geisinger could spend the bond money.
Board of Commissioners Chairman Chris Exarchos said recently that until commissioners have the hearing and listen to all sides, it is too soon to say whether the board will give approval.
The Grays Woods project has had critics, who say it will take profitable business from Mount Nittany Medical Center and leave the hospital with unprofitable services.
The facility will be located on 52 acres in Patton Township near the Interstate 99 Grays Woods interchange and cost $35 million to build. The 60,000-square-foot facility will offer outpatient services and have offices for physicians in family medicine, pediatrics and obstetrics and gynecology.
Geisinger spokeswoman Kim Aboud said plans are to break ground this spring. Construction could be finished in early 2009.
Money from the bonds also could be used to improve Geisinger facilities and equipment in Philipsburg, Bellefonte, the Centre Region and other counties.
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Copyright (c) 2007, The Centre Daily Times, State College, Pa.
Distributed by McClatchy-Tribune Business News.
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