Lending issues delay start of hospital construction

Construction of the new Hillsboro Community Hospital has been delayed, according to Michael Ryan, chief executive offcer.

Ryan met with officials from HMC/CAH Consolidated last week. Although the news was disappointing, Gary Clifton with HMC/CAH, restated their strong commitment to HCH and to Hillsboro.

?Although the nation?s economy is down, HMC/CAH Consolidated maintains its position with Hillsboro,? Clifton said. ?HMC continues to work diligently to find a reliable source of funding as quickly as possible.

?Like many other health care related construction projects in the nation, the HCH project is being temporarily delayed because lenders have stopped lending.?

Ryan said, ?HMC/CAH Consolidated Inc. remains strongly committed to the needs of our hospital and those of our community.

?Because of their strong support, they remain actively engaged in moving forward with the financing and the resulting construction process. We are looking forward to the time when the credit market frees up and construction can move ahead.?

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