Monday, December 7, 2015

$46 Million Winston Medical Center Hospital Project Ready to Proceed

Winston Medical Center Chief Executive Officer Paul Black was in
attendance at the Winston County Supervisors' meeting on Monday (Dec 7, 2015) to brief officials on the progress of construction plans for the new facility.

Black informed the Supervisors that the bid process was completed the week of Thanksgiving and that projected costs based upon accepted bids were approximately $46, 243,000. Black noted that these bids were on the high side of projected estimates but were still well within the projected cash flow abilities of the project. "We're still looking at options to reduce some of these construction costs and we are still looking at possible additional funding options."

Black also said that paperwork required to acquire New Market Tax Credits which will provide approximately $10 million in funding for the construction should be completed this week and site preparation will begin almost immediately.

Work has already been underway to clear the property of the destroyed hospital facility that was heavily damaged in the 2014 tornado.

Under current bid options and design plans, the new facility is expected to be completed sometime in 2017. Debt to complete the project is estimated at $10.5 million and financing is established.