Laserfiche WebLink
CITY OF SAN LEANDRO <br />INTEROFFICE MEMO <br />TO Glenn <br />FROM <br />SUBJECT Eden Hospital Modernization Financin <br />DATE <br />5/22/72 <br />1 T have researched USCA briefly. <br />2 As to FHA financing described in the attached memo from Ira J. Morrison & Associates: <br />3 1_ T,nans can he made up to $50,000,000 per hospital. <br />4 2. The loan ran be up to 907, of the replacement cost of the property or <br />5 theprnl ect when completed. <br />6 1 The term of the loan can be prescribed by the Secretary of HUD. <br />7 Ly Tho hank ran rharge 6% Plus ingnrnnre and service charges. <br />8 S FHAgets a 1%premium <br />9 6 The Secretary of Mm ran change the interest rate to meet the market until <br />10 T.._ 0n , n70 <br />11 7 T^a^s Ean be made toxivate nonTrnf;r" and "proprietary" hospitals <br />12 Eden ebvieusly is net a"private iron —profit" hospit l T Hnt3't know what a <br />13 "nru rietRrp'" hospital is, because T cannot find a definition in the National <br />14 Housing AGL (T itie 19, Section 17157-7 is the section on hospitals) or elsewhere <br />15 1970 U S Code —Cpng ressj^na1 and Administrat;ve NpwR p 5582 says the purpose of <br />16 n. 9oe9—adding "proprietary" hospitals was rn make lnanS available to hospitals <br />17 <br />ted€erre€it. 1 suspeet Eden is not proprietary <br />18 Frank King called Morrison and asked if Fden would qualify. Morrison says <br />19 he thinks so AA also said that when application is made for a loan HEW makes an <br />20 a end,,..,+investigationf n , <br />independent cTx c ----E}�-n6' g �o�tkl e.T r LLse e t <br />21 Under the "^spit* and —Medic —A- Amendments(Title42 5§291J et seg. <br />22 and Q91n) t-n the Pnhlir Health Service Act, there are three possibilities: <br />23 A 40-year 1 nan ar an interest rate of 1% above the going market for U.S. <br />24 <br />bonds <br />25 A loan for 907 of the cost of the project for a term which can be <br />FORM 063 <br />