Clearwater, Fla.-based BayCare Health System received approval on Aug. 1 from the Hillsborough Industrial Development Authority for a $1.9 billion bond to advance care across west central Florida.
"BayCare has a long, successful history of using tax-exempt bond financing to ensure we are meeting the needs of our communities," a spokesperson for BayCare said in an Aug. 1 statement shared with Becker's.
Of the $1.9 billion funding, $572 million will be used to construct a 154-bed hospital in Manatee County, Fla., which is expected to break ground in October, Tampa Bay Business Journal reported Aug. 1.
Over the next three years, the bond will be issued in a single or multiple series. The first series should be issued over the next year, the publication said.
Here are 12 additional plans for the approved bond, per the Biz Journal:
1. The funding will go toward a new $338 million freestanding facility for Tampa, Fla.-based St. Joseph's Children's Hospital and St. Joseph's Women's Hospital campuses.
2. Up to $305 million will be dedicated toward supporting the demolition of Plant City, Fla.-based South Florida Baptist Hospital and development of a 146-bed new hospital that is set to open in August. Hospital construction cost is around $326 million.
3. Around $327.2 million will go toward five bonds that BayCare issued between 2009 and 2020.
4. From the funding, $162 million will go toward funding BayCare Hospital Wesley Chapel (Fla.), an 86-bed hospital BayCare opened last year.
5. The plan includes $146 million toward the construction of an intensive care unit and emergency department at Bartow (Fla.) Regional Medical Center.
6. St. Petersburg, Fla.-based St. Anthony's Hospital will get $126 million from the bond for renovations and construction of several new buildings, such as an expanded patient emergency department, a new 90-bed patient tower and new generator.
7. Clearwater, Fla.-based Morton Plant Hospital campus will receive $76 million for new equipment and renovations.
8. Safety Harbor, Fla.-based Mease Countryside Hospital campus will receive $56 million for renovation and construction of multiple buildings.
9. Mease Dunedin (Fla.) Hospital campus will get $43 million in new equipment and renovations.
10. New Port Richey, Fla.-based Morton Plant North Bay Hospital campus will get $38 million for renovations and new equipment.
11. Lutz, Fla.-based St. Joseph's Hospital North campus will receive $26 million for new equipment and renovations.
12. Riverview, Fla.-based St. Joseph's Hospital South Campus will get $22 million for new equipment and renovations.