New $66 million Tomah Memorial Hospital in the works
Financing for the project includes a $35 million loan from the U.S. Dept. of Agriculture Rural Development -- the largest awarded in the state.
Credit: Tomah Memorial
Tomah Memorial Hospital in Tomah, Wisconsin will soon be moving to fancier digs. Work has officially begun on a new, $66 million home for the hospital, a three-story, 140,000-square-foot facility that officials have described as being "state-of-the-art."
"I don't want to downplay the magnitude of this project by saying this, but what we're about to build is just a shell," said hospital board president Paul Potter in a statement. "Great people inside that great facility will do great things."
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Financing for the project includes a $35 million loan from the U.S. Dept. of Agriculture Rural Development -- the largest awarded in the state of Wisconsin -- along with a $13 million tax-exempt loan from Associated Bank, and an $18.1 million equity contribution from TMH.
The TMH Foundation has already pledged $275,000 over the next five years to help with construction of planned wellness rooms at the new hospital as well as a walking trail that will encompass the campus. A capital fundraising campaign coordinated by Madison-based McDonaldSchaefer is underway with a goal to raise $2 million for the overall project.
TMH originally purchased the 40-acre construction site in May 2014 from Norman and Evelyn Randall.
CEO Phil Stuart said construction is scheduled to be complete by fall 2019.
There are no definitive plans for the existing hospital, but officials say preliminary discussions have occurred with interested parties.
Twitter: @JELagasse
Email the writer: jeff.lagasse@himssmedia.com
