How will Wishard fund construction of new facilities?
Wishard and HHC have already saved $150 million in cash resources for the project. Bonds will be issued to fund the rest of construction costs, with the debt service paid from Wishard and HHC’s operating revenues. Other funding will be provided through revenues from other lines of business, capital project reserves accumulated by HHC and philanthropy. Only 5.4 percent of Wishard’s current funding comes from property taxes, and not one dime of tax increases or new taxes will be needed to fund construction or operation. Why can’t Wishard remodel or refurbish its existing buildings? It is physically not feasible, and where there are solutions, the cost is prohibitive. In many instances, rooms could not accommodate the standard equipment needed for patient care and utility passageways could not handle the required mechanical and electrical systems upgrades. Why can’t Wishard renovate its campus building by building? It is physically not feasible, and where there are solutions, the cost is
