ANMC Patient Housing project reaches important milestone with bond sale
Certificates of Participation will fund 170-room housing facility for Alaska Native patients
This week the State of Alaska successfully sold Certificates of Participation, much like bonds, to individual investors so it can provide $35 million in funding to the Alaska Native Tribal Health Consortium (ANTHC) to build the 170-room Alaska Native Medical Center Patient (ANMC) Housing facility on the Alaska Native Health Campus in Anchorage. The bond closing is scheduled forthe week of September 15.
ANTHC leadership is partnering with the State of Alaska Department of Revenue, Wells Fargo, J.P. Morgan and Acacia Financial to complete these transactions.
More than half of ANMC’s patients travel to Anchorage for care and services, and providing suitable housing for these patients has historically been a challenge. The ANMC Patient Housing project will improve access to high quality care and services at the ANMC hospital for more than 143,000 Alaska Native and American Indian people living in Alaska, as well as provide appropriate travel lodging and support while they receive care and recover. This 170-room facility plus pre-maternal home will be connected to the ANMC hospital via sky-bridge and will alleviate many of the lodging problems for traveling guests, while also providing a culturally appropriate home-away-from-home environment.
With funding in place, construction work for the housing facility is anticipated to go out to bid in October. The project is currently near the end of the design phase and has a tentative groundbreaking date of May 2015. We hope to complete the project in spring or early summer 2016.
“This is an exciting moment along a timeline that will ultimately provide better access to exceptional care for our people around Alaska,” explained Andy Teuber, ANTHC’s Chairman and President. “With this funding in place, we can continue building on the momentum behind this project to improve access to care.”
Additional housing at ANMC will improve access, expand services for patients and families, and enhance the continuity of care for patients. This is particularly critical for expectant mothers with high-risk pregnancies; cancer patients requiring infusion and radiation therapy; patients needing outpatient specialty medical care; children and Elders; and others.
In June 2013, Alaska Governor Sean Parnell visited the Alaska Native Health Campus to sign and approve Senate Bill 88. The bill authorized $35 million in state
Certificates of Participation to help build the housing facility adjoined to the ANMC hospital. Governor Parnell’s signature on Senate Bill 88 was the culmination of combined efforts by the Alaska State Department of Health and Social Services Commissioner Bill Streur, Alaska Tribal Health System leaders, ANTHC staff, and many others. The partners identified opportunities to improve care for Alaska Native and American Indian people, provide better access to Tribal health facilities, and save millions of dollars annually in Medicaid costs for the State of Alaska.
Learn more about the ANMC Patient Housing project at www.anmc.org/new-anmc-patient-housing.