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Star Valley Medical Center is moving forward with plans to construct a new emergency department and expand its surgery department. The estimated cost of the project is $9 million.
In order to help finance the project, the medical center is seeking a tax bond to raise $3.4 million. The tax bond would be paid through an annual three mil property tax levy.
According to information provided by Star Valley Medical Center, it will take approximately eight years to retire the bond.
“This expansion project will meet the new Emergency Department standards of construction and meet patient privacy needs,” said Charlie Button, CEO of Star Valley Medical Center. “It allows for better trauma treatment and has hazmat emergency capabilities.”
The expansion project will create “better security” and a “patient and family waiting area,” Button said. The expanded facility will also meet standards “for psychiatric observation and pediatric patient care.”
“The surgery department expansion will resolve the pre/post operative bottlenecking and overcrowding,” Button said. “This construction will add one additional operating room and provide better patient privacy and allow for better care in the pre/post operative areas.”
According to information provided by the Star Valley Medical Center, the project will be financed in three different ways. The medical center will obtain a low interest loan for $3 million. The tax bond will raise $3.4 million. The balance of the project funds will be taken from the medical center’s reserve account.
“To pass the bond we need 51 percent of those who vote on May 7 voting in favor of the bond,” Button said. “What this means to taxpayers in costs is property valued at $100K will pay $28.50 per year in additional taxes. Property valued at $200K will pay $57K per year in additional taxes.”
According to Button, property valued at $300K will pay $85.50 in additional taxes a year. While properties valued at $400K will pay $114 in additional taxes per year.
“Qualifying senior citizens and low income individuals can get property tax relief through a State of Wyoming program,” said Button. “Veterans can apply for tax relief through the county assessor’s office. Ag land is valued based on a five year rolling average of production capability, not at real estate market value.”
The Star Valley Medical Center has scheduled a series of information meetings to discuss the bond election and hospital expansion project.
March 12 a meeting is set for the Afton Civic Center from 6:30-8 p.m.
March 13 a meeting will take place at the Donn Wooden Civic Center in Alpine from 6:30-8 p.m.
March 14 a meeting will take place in the Etna Community Center from 6:30-8 p.m.
March 19 a meeting has been set for the Thayne Community Center from 6:30-8 p.m.
March 20 a meeting will take place in the Afton Civic Center from 6:30-8 p.m.
March 26 a meeting is set for the Star Valley Ranch Town Hall from 6:30-8 p.m.