04/18/1990 (2)
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CLEARW ATER
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HEALTH
FACILITIES
AUTHORITY.
MINUTES
Date
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The next meeting of the Authority was scheduled for April 17, 1991 at 4:30
P.M.
Attorney Marquardt stated the Pinellas County Health Authority is a very
active board and he indicated they would be pleased to share their policies in
regard to application fees, indigent care fees, etc. with the Authority. He
indicated, if a proposed project is within the boundaries of a municipality that
has a health authority, the County does not get involved.
Chairman Wollett stated guidelines similar to the County's had been
recently adopted except that the indigent care fee is to go to the County rather
than to the City.
Bill Cantlin, Accounting Manager, stated a $175 annual registration fee
is now required for special districts and he indicated complex regulations are
down the road.
. Glen Hubbard, Morton Plant Hospital, gave a report and distributed a
listing of potential projects for the next five years. He indicated relocation
of the Womens Center/Psychiatric Hospital and renovations to the
Cardiology/Nuclear Medicine are ongoing. In response, to a question, it was
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4/18/90
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indicated the psychiatric faci lity will have 68 beds and the Homen I s Center
approximately 40 beds. He said it has been a long time since any major
construct i on project has been done to house patient beds. He i nd i cated the
hospital has been efficiently operated and receives community support through
the Foundation. .
In response to a question, it was indicated R/NC Replacement refers to the
126-bed nursing home located on the south side of Pinellas Street and Fort
Harrison Avenue which is a very old facility. It is hoped it can be replaced
in the near futurej however, there have been problems with the zoning and HRS
regulations.
Mr. Hubbard indicated a multi-level building is being proposed that will
connect the Barnard Building with the new Women's Center and will house ancillary
services.
In response to a question, it was indicated the Women's Center is
anticipated to be completed around October with occupancy around the beginning
of the year.
Discussion ensued in regard to the National Hea1thp1ex application for the
acquisition of Drew Village Nursing Center and the rating of the bonds to be
issued.
Bill Goodwin, Citizens Advisory Board, Drew Gardens, indicated the bonds
would be privately placed with credit worthy investors. Chairman Wollett stated
the bond counsel for the applicant would be requesting a signed letter from the
investors certifying they know the risks involved thereby relieving the Authority
of any obligations.
Concern was expressed regarding default of the bonds triggering additional
disclosure requirements for the Authority which may also apply to the City of
Clearwater.
Assistant City Manager Michael Wright arrived at 5:20 p.m.
Reference was made to the article in the liThe Bond BuyerlJ regarding
transactions that involve 501(3)(c) organizations.
Concerns were expressed regarding the difference in the amounts of the
current issue and the new issue, why CMS is selling the facility after owning
it for just a short period of time and National Healthplex's ability to pay for
the bonds. Mr. Goodwin stated the current debt service is approximately $600,000
and there is money available in the operational funds of the facility.
In response to questions, it was indicated the cost of operation would be
slightly higher than the current cost and this bond issue would payoff the
previous one.
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4/18/90
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Discussion ensued in regard to an appraisal not being done, and it was
indicated one would be available in approximately two weeks. It was indicated
the facility has an approximate two year service reserve of $1,200,000.
In response to a question, it was indicated a flat per diem charge is
received for Medicaid patients.
Concerns were also expressed regarding the application not being for a new
facility, a for-profit organization selling to a not-far-profit organization
and cross collateralization with other facilities not located in this area.
The Chairman said he would forward the Authority's concerns to'the seller
and buyer. He indicated the Authority was not totally sati sfied with the
financial advisor's report and he indicated an appraisal of the property needs
to be done and more information obtained.
Mrs. Hosch nominated C. J. Wollett as Chairman and George Bouse as Vice-
Chairman of the Clearwater Health Facilities Authority for 1990. The motion was
duly seconded and carried unanimously.
Mr. George nominated Florence Hosch as Secretary/Treasurer and Ruth Condon
as Assistant Secretary/Treasurer of the Clearwater Health Facilities Authority
for 1990. The motion was duly seconded and carried unanimously.
In regard to the special district registration fee, Mr. Wollett felt it
would be appropriate for the City of Clearwater to pay this fee.
The meeting adjourned at 6:10 p.m.
Chairman
ATTEST:
Assistant City Clerk
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