FOR RELEASE ON:
Oct. 18, 2007
Contact: Andrew Hamilton, Executive Director
Upper Illinois River Valley Development Authority
UIRVDA Funds New Medical Facility and Health Club in Huntley
Project is expected to create 90 new jobs in the area.
Ottawa, IL … The Upper Illinois River Valley Development Authority, UIRVDA, has issued $55,000,000 in bonds to NIMED Corporation, an affiliate of Centegra Health Systems, to fund the construction of a 60,000 square foot ambulatory care center and medical office building on Haligus Road and a 120,000 square foot health club on Algonquin Road in Huntley. The project and related expansions are expected to create 90 new jobs in the area.
“We are delighted to assist NIMED in their expansion,” said Gov. Rod Blagojevich, who approved the issuance of the not-for-profit, tax-free bonds by UIRVDA on behalf of NIMED Corporation. “The new medical facilities will dramatically improve healthcare for thousands of families in Northern Illinois.”
NIMED is an affiliate of Centegra Health Systems, which was formed when Memorial Medical Center in Woodstock, Ill., and Northern Illinois Medical Center in McHenry, Ill., joined forces. Centegra serves the greater McHenry County region of northern Illinois and is the county’s largest employer with over 3,100 Associates, 450 Physicians, and nearly 500 Volunteers. Centegra has Level II Trauma Centers and Level II nurseries at both of its medical centers. In addition to Emergency Services and Obstetrics, Centegra has more than 30 facility sites and is recognized for cardiac care, cancer care, rehabilitation services, occupational health, behavioral health services, and the Centegra Health Bridge Fitness Center. Centegra is ranked among the best by organizations includingU.S. News & World Report Magazine, Solucient and Health Grades.
As of 2007, UIRVDA has issued $151,425,000 in bonds that have created and retained 1,699 jobs. UIRVDA, created by the Illinois General Assembly and the Governor, is a general development agency for the counties of Bureau, Grundy, Kane, Kendall, LaSalle, Marshall, McHenry and Putnam. The Authority’s powers enable it to issue taxable or tax-exempt revenue bonds for the purpose of developing, constructing, acquiring or improving facilities for business entities locating in or expanding within the jurisdiction of the Authority.
“This is the largest bond that UIRVDA has issued to date,” said Chester Massino, Chairman of UIRVDA. “We are delighted to have been part of this important project in Northern McHenry County.”
Members of the Authority board include: James Ghiglieri, Barbara Griffith, Michael Guilfoyle, Dennis Hackett, Philip McCully, Chester Massino, William Meagher, Greg Meyers, James Miller, Chris Newkirk, Kevin Olson, Anthony Rue, John Shaw, Thomas Setchell, William Steep, Jeffrey Wilkins, and the Directors of the Illinois Department of Commerce and Community Affairs and the Illinois Department of Central Management Services.
For more information, call Andrew Hamilton, Executive Director of UIRVDA, at 866-325-7525.