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DCHS loan hearing Aug. 14

IRON MOUNTAIN — A public meeting is scheduled for 3 p.m. Wednesday, Aug. 14, to receive comments on Dickinson County Healthcare System’s application for a federal loan of $24.65 million to refinance part of its existing debt and make numerous capital acquisitions.

The meeting on the proposed Community Facilities Direct Loan from U.S. Department of Agriculture Rural Development will be held in Conference Room E at Dickinson County Memorial Hospital.

The meeting was first scheduled for July 25, but was postponed to meet the USDA’s requirement of a 10-day notice.

Of the $24.65 million sought, $9.875 million is to refinance a term loan with Fifth Third Bank. The rest is mainly for equipment and technology.

Federal borrowing has been planned since October, when DCHS hired Washington D.C.-based Venable LLP to help organize a financial restructuring.

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