Lehigh Valley Health Network borrowing $650 million in Monroe
The Monroe County commissioners authorized the Lehigh Valley Health Network to borrow $650 million for refinancing and funding new projects in Monroe and other counties at the meeting Wednesday.
The county will not be liable for this sum.
“As commissioners, we will approve this on the basis of it adding to the health and safety and health care needs of the community,” Moyer said during the discussion. “Access to care is a critically important thing.”
The county can approve the funding under its hospital authority, Chairman John Moyer said.
“We are permitted and we see no reason not to approve the request that they are making, given that we suffer no gain or liability regardless of what happens with this particular refinancing,” Moyer said.
Of the larger sum, about $55 million will go toward nine health care facilities in Monroe County, solicitor John Dunn said.
The money will be used for purposes including acquisition, construction, renovation and equipping of the health care facilities.
Almost all of these facilities already exist, Moyer said after the meeting.
The commissioners also approved an application for a 2019 Community Development Block Grant for $654,680 from the Pennsylvania Department of Community and Economic Development after holding the second of two public hearings.
The county applies for this grant yearly.
The money would go toward housing and community development projects to primarily benefit low- to moderate-income county residents, county Redevelopment Authority director Martha Robbins said during the public hearing.
If granted, $399,581 will go to Monroe County for rehabilitating houses, and $149,057 will go to East Stroudsburg Borough and $106,042 to Stroudsburg Borough for street and road improvements.