For-profit hospital finds it can't beat City Hall--that is, the financing deal offered by the city.
American International Hospital in Zion, Ill., doesn't lack support from city hall. In an unusual transaction for an investor-owned hospital, the city recently sold $20 million in taxable debt for the purpose of lending the proceeds to the hospital to help finance a replacement facility. The deal saved the hospital, the area's largest employer, as much as 2.5 percentage points on the interest rate.
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D002202:Capital Financing / Q000379:methods*; D003159:Community-Institutional Relations / Q000191:economics; D005380:Financing, Government / Q000379:methods*; D006743:Hospital Bed Capacity, under 100; D006777:Hospitals, Proprietary / Q000191:economics*; D007087:Illinois; D009111:Local Government; D013660:Taxes