The Monroeville Council recently approved (pdf) a resolution that would issue $210 million in tax-exempt bonds to University of Pittsburgh Medical Center to build its new UPMC East hospital campus in Monroeville.
The Monroeville Finance Authority will give final approval on the motion today, which also includes another $210 million to cover some of UPMC's prior debt, according to a Pittsburgh Tribune-Review report.
UPMC also held a mandatory meeting at the UPMC East site to issue bonds through the Public Finance Authority, a Madison, Wis.-based firm that can sell municipal bonds on behalf of non-profit organizations.
Critics of the approval said UPMC is "hedging their bets" and are avoiding $2 million in taxes, according to the report. UPMC could not be reached for comment.
The Monroeville Finance Authority will give final approval on the motion today, which also includes another $210 million to cover some of UPMC's prior debt, according to a Pittsburgh Tribune-Review report.
UPMC also held a mandatory meeting at the UPMC East site to issue bonds through the Public Finance Authority, a Madison, Wis.-based firm that can sell municipal bonds on behalf of non-profit organizations.
Critics of the approval said UPMC is "hedging their bets" and are avoiding $2 million in taxes, according to the report. UPMC could not be reached for comment.
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