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Old 07-13-2012, 10:51 AM
 
20,273 posts, read 33,022,351 times
Reputation: 2911

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Article:

Monroeville Finance Authority approves tax-exempt bond for UPMC - Pittsburgh Post-Gazette

Monroeville Finance Authority OKs $420M in bonds for UPMC projects | TribLIVE

The local finance implications of deals like this are complicated (Monroeville will get an upfront fee and annual payments), but I am more interested in what they are planning to do with the money (some is refinancing existing debt, but not all):

Quote:
Sara Davis Buss, an attorney representing UPMC, said $210 million will go to refinance currently outstanding debt at a lower interest rate and another $210 million will go toward "new capital projects" in Pittsburgh and Monroeville, some of which are facilities that already exist, including the recently opened UPMC East hospital.
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Old 07-13-2012, 08:08 PM
 
1,164 posts, read 2,059,569 times
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Monroeville City Council suddenly thinks they're JP Morgan Chase. Hopefully for the taxpayers of Monroeville they won't end up with a $4 billion loss. But I doubt it. Just one more chapter in the deterioration of that once-booming suburb.
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Old 07-14-2012, 06:33 AM
 
Location: Tulsa Metro Area, OK
74 posts, read 260,519 times
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While it's great for Monroeville, I too am wondering where UPMC is going to capitalize on these projects. I think the Urgent Care Market is another market we are going to see saturated. At least in the North Hills they've been really interested in that segment. It hasn't been completely successful though (After Hours Clinics).
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Old 07-14-2012, 06:55 AM
 
20,273 posts, read 33,022,351 times
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As an aside, this is purely based on personal observation, but it seems to me like Monroeville is now going through a renaissance of sorts, rather than still deteriorating.
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