Montana Facility Finance Authority Bond to Save Plains Hospital $1.89 Million
MFFA provides nonprofit hospitals and other healthcare providers with an option for low-cost capital financing through tax-exempt bonds, which the borrowers otherwise wouldn't be able to access. This bond was privately placed with
"We are very grateful for the opportunity to partner with the
The hospital secured the original loan in 2007 and used it to construct a major addition to the building, replacing its main lobby as well as the acute care, emergency, radiology and surgery departments and doubling the size of its clinic.
Once the new space was occupied, the hospital remodeled the old space to house its administration, patient financial services, health information management and physical therapy. It also expanded its dietary area/kitchen, and made a small addition to its nursing home dining/activity space.
"Hospitals are central not only to the health of the people in the communities they serve but also to the health of their local economies," said MFFA Executive Director
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