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Plans falling into place for nursing home purchase PDF Print E-mail
Written by Wauneta Breeze   
Friday, 06 April 2012 19:22

By Sheri Hink

The Wauneta Breeze

 

Plans are falling into place for the purchase of Heritage of Wauneta nursing home from Vetter Health Services (VHS).

Friday morning, nursing home organizers received word that the Village of Campbell board met and approved the option for the Village of Wauneta to purchase 33 nursing facility bed licenses.

The approval of the option to purchase bed licenses is one of the major hurdles organizers needed to overcome to make the Village of Wauneta’s purchase of the nursing home a reality.

Other items yet to be finalized include the revenue bond agreements to allow for financing the purchase of the nursing home and a final contract with VHS for the purchase of the facility.

The revenue bonds will come from four lenders, each bond for $125,000. According to the Municipal Securities Rulemaking Board, a revenue bond is in essence a loan for municipalities that will be paid back from specific sources which do not include taxation.

According to Village board member Page Johnston, the contract with VHS is nearly complete, the final steps to finish the purchase contract is to inventory items that are included in the sale.

Organizers feel very positive about the progress of contract negotiations with VHS and have been pleased with how gracious VHS has been throughout the process.

The Village continues to receive private donations to help with the purchase and operation of the nursing home after the June 30 deadline when VHS will cease its operation. As of Tuesday morning, $237,625 had been received from individuals, businesses and organizations.

Nursing home organizers named $225,000 in private donations as the amount of private funds needed to help cover a portion of the anticipated $800,000 needed to purchase the nursing home facility from VHS and cover initial operating costs including bed licenses and mandated updates to the facility.

Private funds raised in excess of the $225,000 goal will be used to cover unexpected expenses, such as purchase of a vehicle for the home, to decrease the amount of debt incurred for the purchase and for future operations of the facility.

Last Updated on Friday, 06 April 2012 19:23