Spectrum, the region’s largest health-care system, has requested the action and plans to use the funds to pay for a list of improvement projects and renovation work, for equipment purchases and to repay a previous bond.
The securities would be tax-free revenue bonds. Should commissioners approve the action, the county would not have a general financial obligation attached to the bonds.
Here are highlights of how Spectrum Health will use the funds:
- $61 million for the Butterworth Campus at
100 Michigan St.Work will include finishing touches to the , renovation and expansion projects at the main hospital, and adding a new parking ramp. Meijer Heart Center
- $24 million to install new computers in the system.
- $16 million on improvements to
United Memorial Hospitalin Greenville
- $11 million on renovations and expansions to the Blodgett Campus at
1840 Wealthy St
- $6 million to acquire additional medical equipment for the Spectrum surgical center at
4069 Lake Drive
- $5 million for renovations to the facility at
2925 Walkent Court
- $3.5 million on building repairs for the facility at
80 68th St
Spectrum also will make upgrades at other sites and use $10.4 million to pay off a 1993 bond that was issued through the finance authority.
Standard & Poor’s has given Spectrum Health a bond rating of AA.
The hospital finance authority approved the request in February.