"Our board has never faced a $27-million project before, so you can imagine our focus is to be assured of our ability to pay this indebtedness," said Michael Laird
, hospital CEO.
"We reviewed several scenarios concerning the impact of higher than anticipated building costs and interest rates, and the projected numbers, even in the worst case scenario, give us confidence that we will be able to fund this multi-phase project."
explained that bids have been received from seven architectural firms and an architect will be selected in May.
"The Centers for Medicare and Medicaid Services
(CMS) are moving toward this new initiative to pay health care providers based on the quality of care they provide," said Laird
"Indications are that our hospital will end the fiscal year on April 30 at or very near our projected budget, another positive indicator as we move forward with our future building projects," said Laird