GRAND RAPIDS, MI — Kent County commissioners approved up to $60 million in bonds Thursday to help Mary Free Bed Rehabilitation Hospital finance several projects, including room renovations, a parking structure and a new outpatient clinic.
The Kent Hospital Finance Authority, which helps nonprofit hospitals access tax-exempt bonds, will issue the bonds and loan the proceeds to Mary Free Bed. Mary Free Bed will repay the bonds, and Kent County taxpayers will not be responsible for the debt.
Ryan Podvin, Mary Free Bed’s chief financial officer, said several of the projects being financed by the bond are already underway, including the parking structure behind the Joan Secchia Children’s Rehabilitation Hospital and improvements to inpatient floors…