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Tue, 07/20/2021 - 18:48 RCN Newsdesk
Edgewood city council adopted a resolution authorizing Mayor John Link to sign a memorandum of agreement with St. Elizabeth Healthcare in which the city will looking industrial revenue bonds to support the new orthopedic surgery center coming.
The bonds, in which the city serves as a conduit and the bonds do not reflect as debt for the city, would be for thirty years for developer Al Neyer.
City Administrator Brian Dehner explained that the county would own the site and lease it to St. Elizabeth for the length of the bond.
Attorney Richard Spoor was present to give an overview of the project and answer any questions council might have. He said that the school board will probably approve the project because it is payment in lieu of taxes, so it doesn t affect the state funding that follows students.