Kremmling replacement hospital still part of plan for Grand County
July 27, 2008
Recent developments with the Granby Medical Campus have made some people ask if the replacement hospital in Kremmling is still going to be built.
Yes, the hospital is still part of the overall plan for countywide health care access. Let me explain where this concern is coming from.
Recent HUD (Housing and Urban Development) financing news made some wonder if it was an “either/or” scenario. Some wondered, “If you get the HUD guarantee loan for the Granby Medical Campus this year, does that mean you won’t get any HUD support in the future for the Kremmling replacement hospital?”
During the recent visit in June to Washington, D.C., hospital officials presented a case for the financing of the Granby Medical Campus. HUD officials not only encouraged the pursuit of this project’s financing ($19.5 million) but also mentioned that they look forward to future requests for the hospital replacement project (estimated 2012).
Bill Widener, CEO of Kremmling Memorial Hospital, believes the HUD loan guarantee for the Granby Medical Campus project will be approved by the end of this year.
A loan guarantee backed by the U.S. government means the mortgage company can provide funds for the majority of construction costs at a lower interest rate. This would leave approximately $2.5 million in remaining financial need. These remaining funds are anticipated to be gathered from several sources including a capital campaign run by the Grand County Rural Health Network as well as other grants. This is just to explain that financing for the Granby Medical Campus, overall, is coming along great. The success of this financing in no way takes away from other viable medical projects in the future.
Recommended Stories For You
Another reassurance for the replacement hospital is that the land has already been purchased. In December 2005, Kremmling Memorial Hospital bought 36.165 acres a couple of miles east of Kremmling off of Highway 34.
The resounding message should be that financing options for the replacement hospital in Kremmling will be explored once the Granby Medical Campus is operational and realizing a positive cash flow. This is the commitment of the Kremmling Memorial Hospital Board of Directors.
“This HUD loan is a significant step in the development of Grand County health care as a whole,” said Widener, emphasizing that the Granby Medical Campus, once in operation and profitable, will provide the means to fulfill another goal for countywide health care ” the replacement hospital in Kremmling.