JCHC Board Votes to Pay Off Foundation Loan

The Hospital Board of Trustees for the Johnson County Healthcare Center, during their regular meeting Wednesday night, voted to pay back the remaining money from a loan acquired from the Hospital Foundation.

The hospital owes just under $600,000 of the money borrowed from the foundation used for the construction of the Amie Holt Care Center.

According to discussions at the meeting, the hospital makes two $85,000 payments annually to the foundation, and it would take about 3 ½ years to pay back the balance at that rate.

Board President Dr. Mark Schueler said the JCHC’s current positive financial situation, with about $12 million in the bank, means that it makes financial sense for the JCHC to pay back the loan balance now, and means the Foundation would be able to use the funds now if needed.

The project to construct the new Amie Holt Care Center was approved by the board in 2014, and construction was completed in the spring of 2016.

The total cost of the project was roughly $13 million, with the board borrowing about $3 million from the Foundation, according to discussions at the meeting.