WASHINGTON, D.C. — New federal resources will help support the renovation and expansion of a Knox County hospital. U.S. Sen. Sherrod Brown, D-Ohio, announced today that the U.S. Department of Housing and Urban Development will approve a $37.1 million mortgage loan for Knox Community Hospital in Mount Vernon. The project, funded through the Federal Housing Administration’s Section 242 Hospital Mortgage Insurance Program, is expected to create more than 300 jobs and generate more than $60 million in economic activity.
“This project will allow Knox Community Hospital to expand access to top-rate health care by improving facilities and streamlining patient records,” Brown said. “But this project will also bring hundreds of good-paying jobs to Knox County, boosting economic activity and improving the quality of medical care available to Ohioans.”
Knox Community Hospital is a not-for-profit healthcare provider operating a 115-bed acute care facility. The construction project will renovate operating rooms, expand the catheterization laboratory for diagnostic and interventional cardiac services, and help with the implementation of a hospital-wide electronic health records system. Knox Community Hospital representatives estimate that, following construction completion, the hospital will support a full-time employment base of approximately 730 jobs.
FHA’s Section 242 Mortgage Insurance Program for Hospitals provides HUD-insured mortgages made by private lending institutions to finance construction or renovation of acute care hospitals including major equipment needed to operate the facility.