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Article: HUD reviving loan program; But Okla. hospital construction delayed by financing.(The Week in Healthcare)(Statistical Data Included)
- Article from:
- Modern Healthcare
- Article date:
- September 30, 2002
- Author:
CopyrightCOPYRIGHT 2002 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Mary Chris Jaklevic
Just as the U.S. Department of Housing and Urban Development is trying to attract more hospital projects to its loan-insurance program, developers of a hospital near Oklahoma City are blaming a two-year construction delay on red tape to get federal financing.
Investors in 45-bed Moore (Okla.) Medical Center originally said they expected to break ground in fall 2000 (May 15, 2000, p. 3). The hospital, now scheduled to start construction in October, will cost $28 million to build, $26.8 million of which will be financed by the Federal Housing Administration's Section 242 Hospital Mortgage Insurance Program, which is administered ...