Mount Sinai South Nassau will receive $90 million in tax-exempt financing to help upgrade its Oceanside hospital and refinance existing debt after a unanimous vote by Nassau County officials, Newsday reports.
The Nassau County Local Economic Assistance Corporation approved the bond financing at its meeting Thursday.
The projects funded by the debt will be “a tremendous benefit to the patients that they serve, as well as to their staff and employees,” said Richard Kessel, chairman of the corporation, which assists hospitals, schools and other nonprofits. “
The economic assistance includes $37 million in new debt to help fund improvements at the 455-bed hospital.
The work includes the renovation of two medical/surgical units that now have 76 beds in shared rooms. The upgraded units will have 46 private rooms and upgraded ventilation systems. Read more.
