Public hearing set for Tuesday
The Troy City Council will hold a public hearing Tuesday to entertain requests from hospital owners once again. Only this time, the city may have a request of its own.
After more than a year of backing the Troy Doctors Hospital, LLC. in financing, the city may look to move forward with a purchase, just not one that would change ownership.
“I proposed to the doctor’s group, they go ahead and allow us to issue bonds and do financing through the Health Care Authority,” said Troy Mayor Jimmy Lunsford.
Lunsford said if doctors agreed to the proposal, ownership would not change. Doctors would just continue to pay on the $10.5 million bond issue to the city, rather than to another lending institution.
At this time, Lunsford said he hasn’t heard a response from owners.
Also in the meeting, Lunsford is anticipating some requests from the doctors, as well.
Among them will be additional backing on repairs for an air conditioning system at Troy Regional Medical Center.
Lunsford said that is something the city will likely agree to, since it would have to make those same repairs should the council have to take ownership themselves.
By April 30, as part of the extended agreement, the hospital owners are required to have funding in place for the city.
Lunsford said he isn’t sure if they will have that ready by the April 28 meeting or if the council will have to reconvene to discuss any further agreements at a later date.
“By April 30, they have to show us they have long term financing in place,” Lunsford said.