Press Inquiry Regarding Hospital Lease | Eastern North Carolina Now

For Immediate Release:

    I had a press inquiry regarding the hospital lease (that I authored). The WDN asked me to match up the county's calendar year debt service obligation with the annual lease payment amount that I wrote into the recent lease.

    I am replying with the these image files that will explain the situation to date. It is also a good reference for the County's running total that is owed to banks on behalf of the Hospital. As of December 1, 2010 the County owes the banks $18.84 million. This sum is declining with each payment we make. Our next payment is due December 30th. The Hospital is scheduled to reimburse us on January 30th.

    The hospital lease calls for half of the $2.55 million (or $1.275 million) owed to the County in the coming Calendar Year 2011 to be paid on January 30th. If we receive this designated amount, we will effectively be made whole for our fiscal year which ends June 30th.

    The remaining half is to be paid on November 30th prior to the end of the calendar year. The schedule carries on from there.

Paul Spruill
Beaufort County Manager
121 West Third Street, Washington, NC 27889
252-946-0079
Please note new email address: paul.spruill@beaufort.nc.gov

    The images files below first express the Amended Lease between Beaufort County and the Beaufort Regional Health System, and the second denotes the hospital debt worksheet as it relates to the aforementioned contract:

    Amended Lease between BRHS and Beaufort County.
    BRHS Debt Service