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” We are at high risk of a catastrophic, irreparable failure that would severely impact and/or completely shut down hospital operations for a lengthy period of time.”
This project will be funded through a USDA loan, County revenue bond, and private donations through a capital campaign.
• High risk of hospital operation disruption
• Low interest rates
• Kimball Health Services is financially stable
• Population growth due to missile project
The proposed facility will be located at the current Kimball Health Services North Campus location. It will include an 18,157 square foot renovation of the former West Elementary School building, an 1,811 square foot basement renovation and the construction of a new 40,358 square foot, single-story hospital just east of the current structure.
Options for repurposing or site development are being explored, however, the project includes demolition and disposal of the current facility, if needed.
Critical Access Hospitals are important for retaining and recruiting residents, businesses and industry to the area – and often serve as one of the larger employers in their community. This is true for KHS, which employs over 120 individuals. There are many positive impacts that are realized with a new hospital, here are just a few possibilities:
• Estimate of $1.2 million in project increase in employment
• $8.3 million in annual wages, contracts and benefits
• Construction project would generate 200 jobs with over $7 million in salaries over 2 years
• If 10% is spent in the county, we could expect approximately $700,000 in additional sales and services over 2 years
• Beautification of downtown and mitigation of two outdated structures
• Expanded options give residents a choice to receive high quality care in a modern facility close to home
The project is estimated to cost just over $32 million.
Critical access hospitals such as KHS are reimbursed by medicare for costs incurred for both inpatient and outpatient services, including allowable costs such as depreciation and interest related to building projects. This means Medicare can be expected to reimburse KHS for more than 50% of the project cost.
Limited risk to taxpayers.
Kimball Health Services does not receive county funds and has not received funds for over 20 years. The hospital and clinic are supported solely by the revenue generated from their operation. The expectation of this project is that any bonds sold for financing will be paid back using hospital generated revenues.
An independent financial feasibility study determined that "sufficient funds could be generated to meet Kimball Health Services' operating expenses, working capital needs and debt service requirements associated with the new facility."
Renovations and updates will include:
• 18,157 SF renovation of the former West Elementary School building
• 1,811 SF basement renovation
• Construction of a new single-story, 40,358 SF hospital east of the current structure
• High risk of hospital operation disruption
• Low interest rates
• Kimball Health Services is financially stable
• Population growth due to missile project
The proposed facility will be located at the current Kimball Health Services North Campus location. It will include an 18,157 square foot renovation of the former West Elementary School building, an 1,811 square foot basement renovation and the construction of a new 40,358 square foot, single-story hospital just east of the current structure.
Options for repurposing or site development are being explored, however, the project includes demolition and disposal of the current facility, if needed.
Critical Access Hospitals are important for retaining and recruiting residents, businesses and industry to the area – and often serve as one of the larger employers in their community. This is true for KHS, which employs over 120 individuals. There are many positive impacts that are realized with a new hospital, here are just a few possibilities:
• Estimate of $1.2 million in project increase in employment
• $8.3 million in annual wages, contracts and benefits
• Construction project would generate 200 jobs with over $7 million in salaries over 2 years
• If 10% is spent in the county, we could expect approximately $700,000 in additional sales and services over 2 years
• Beautification of downtown and mitigation of two outdated structures
• Expanded options give residents a choice to receive high quality care in a modern facility close to home
The project is estimated to cost just over $32 million.
Critical access hospitals such as KHS are reimbursed by medicare for costs incurred for both inpatient and outpatient services, including allowable costs such as depreciation and interest related to building projects. This means Medicare can be expected to reimburse KHS for more than 50% of the project cost.
Limited risk to taxpayers.
Kimball Health Services does not receive county funds and has not received funds for over 20 years. The hospital and clinic are supported solely by the revenue generated from their operation. The expectation of this project is that any bonds sold for financing will be paid back using hospital generated revenues.
An independent financial feasibility study determined that "sufficient funds could be generated to meet Kimball Health Services' operating expenses, working capital needs and debt service requirements associated with the new facility."
Renovations and updates will include:
• 18,157 SF renovation of the former West Elementary School building
• 1,811 SF basement renovation
• Construction of a new single-story, 40,358 SF hospital east of the current structure
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Meeting ID: 910 0274 3263
Passcode: KHS
Meeting ID: 973 5114 9017
Passcode: KHS
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