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WPH Phase II CAP TAX Master Presentation

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Phase II of the West Park Hospital 2010 Modernization Project Moves Forward

LAST UPDATED AUGUST 4, 2010

During the August 17th primary election, Park County voters will have an opportunity to vote on a 1% Specific Purpose Tax for the Benefit of West Park Hospital. We want all voters to get the facts and vote at the polls, regardless of their position. We see the election as an exceptional opportunity for everyone to become more involved in their community and learn more about healthcare in this area and the challenges we face.

Should voters decide on the 1% Specific Purpose Tax for the Benefit of West Park Hospital, the $14 million generated, (approximately 30% of the tax to be generated from tourism revenue alone) would help finance the Emergency Department Expansion and Hospital Modernization Project while enabling West Park Hospital to pay off its debt for this project in 31 months, instead of burdening future generations.

It was after much research and careful consideration, that the WPH Board of Trustees decided to pursue a specific purpose tax instead of a general obligation coupon bond to help fund the proposed project. A general obligation bond would have resulted in a property tax increase of 3 to 6 mills for 25 years. It became apparent that the better option, the more fiscally responsible way to fund the Emergency Department Expansion and Hospital Modernization Project, was through a specific purpose tax. Although the hospital currently receives just over $2 million per year in tax support, those funds are allocated to pay for uncompensated or indigent care. Many people do not realize that regardless of an individual’s ability to pay, each person who presents in the WPH Emergency Room will receive medical care.

Once complete, the modernized medical center will provide the region with high-quality healthcare close to home for the next 40 years and beyond.

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