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Public hearing set on Saint Francis tax-exempt development bonds

Mar 19, 2013 -- 9:44am


Southeast Missourian

The Industrial Development Authority of Cape Girardeau County will hold a public hearing Wednesday regarding the adoption of a resolution approved last month to issue tax-exempt development bonds of up to $215 million to Saint Francis Medical Center. The bonds will be used to help fund new construction and refinance debt. The development authority heard Saint Francis's application Feb. 22. The resolution was passed with two votes. Saint Francis broke ground in November on a $127 million expansion and renovation project, which includes a five-story medical tower and plans to upgrade existing facilities. It will employ 400 to 450 workers, adding as much as $35 million to $40 million in payroll. The meeting will be at 3 p.m. Wednesday at 167 N. Mount Auburn Road.

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