IBJNews

New Wishard gets overwhelming approval in referendum

Back to TopCommentsE-mailPrintBookmark and Share

Supporters of a new hospital for Wishard Health Services declared victory Tuesday night after voters overwhelmingly backed the $754 million project in a special election.

With more than 50 percent of precincts reporting results as of early Wednesday morning, 83 percent of voters had approved the referendum backing the project. More than 40,000 votes had been counted.

Typically, taxpayers vote on such referenda when city leaders want to raise taxes to fund a new project. That’s not the case for Wishard, which has advanced a plan to pay for the new hospital with no tax increase. Wishard wants taxpayers to guarantee bonds it plans to sell so it can get much lower interest rates for the project.

Wishard parent organization Health and Hospital Corp. of Marion County wants to sell $703 million in bonds to replace the aging complex at 10th Street and University Boulevard. The hospital corporation already has saved $150 million to apply toward the $754 million project, and it hopes to raise another $50 million from donors.

“I know of no other public project in the history of our state where a public entity has been able to save $150 million as a down payment of a project,” said Health and Hospital Corp. CEO Matt Gutwein before the election.

Gutwein was joined by Indianapolis Mayor Greg Ballard in proclaiming victory in the special election Tuesday night even before half the vote was tallied.

"These referendum results confirm our city’s commitment to ensuring that all our residents have access to high quality health care,” Gutwein said in a written statement. "A historic coalition came together to support Wishard. We are deeply appreciative of their leadership in supporting this project, and to the voters, who offered the most resounding confirmation with each of their sacred ballots, we offer heartfelt thanks.”

Ballard said the referendum results meant thousands of jobs would be retained and created.

“While the focus has been on the care and teaching that Wishard provides, it’s important to note that the construction of the new hospital will create more than 4,400 jobs, maybe more over the course of the project,” said Ballard. “This means new work for many of our hard-working citizens who will put their training and expertise into building this great new facility.”

Gutwein has made more than 200 presentations in the last few months—including talks at four churches last Sunday—arguing that Wishard officials have built in such a large cushion for error, that the hospital will never have to fall back on taxpayers for help.

Selling the bonds now would take advantage of historically low interest rates, saving Wishard hundreds of millions of dollars, Gutwein estimates.

Wishard estimates its annual debt payments for the new hospital will be at least $38 million a year for 30 years. That’s 10 times higher than it currently spend on debt payments. But Gutwein noted that the higher payments still amount to only 4.25 percent of the hospital corporation’s budget.

Gutwein said his staff is ready to move immediately to launch the bond sale and start construction work on the new hospital site, which will rest between the Veteran’s Affairs hospital and the IUPUI campus, roughly on the site of the former Larue-Carter mental hospital.

Without an election victory, Gutwein said, “the most probable outcome would be that we would be required eventually to close Wishard.”

ADVERTISEMENT

  • Job
    My name is Jeff and I am interested in a job building the new Wishard hospital, whom can I contact to apply ?
    Thank you for you help.
    Jeff
    317 717 0758
  • deferred taxes
    Where will the money eventually come from to pay back the nearly $1 billion "New Wishard" price tag to bond holders? Tax payers. If Wishard were solvent they would be able to fund their own upgrades. They will continue on as they have in the past and taxpayers will pay as the bonds come due. People are morons.
  • HOORAY
    YAY!!!

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. I still don't understand how the FBI had any right whatsoever to investigate this elderly collector. Before the Antiquities Act it was completely legal to buy, trade or collect Native American artifacts. I used to see arrow heads, axes, bowls, corn grinders at antique shops and flea markets for sale and I bought them myself. But that was in the late 60's and early 70's. And I now know that people used to steal items from sites and sell them. I understand that is illegal. But we used to find arrow heads and even a corn grinder in our back yard when I was a child. And I still have those items today in my small collection.

  2. I lived in California and they had many of the things noted in the proposed suggestions from the "Blue Ribbon Panel". California is near financial collapse now. Let's not turn the great state of Indiana into a third world dump like California.

  3. The temporary closure of BR Avenue will get a lot of attention. But, one thing reported by the IndyStar really stands out to me, and is extraordinarily depressing: “Police also have agreed to crack down on noise violations, traffic violations and public intoxication.” In other words, the police have generously agreed to do their jobs (temporarily, at least), instead of just standing around waiting for someone to call 911. When is someone in this department going to get off their fat arse (looking at you, Chief), get their minds out of 1975-era policing and into 2014, and have his department engage in pro-active work instead of sitting around waiting for someone to be shot? Why in the hell does it take 7 people getting shot in one night in one of the city’s biggest tourist destinations, to convince the police (reluctantly, it would appear) that they actually need to do their f’n jobs? When is the Chief going to realize that there’s a huge, direct, proven correlation between enforcing the law (yes, all laws, especially those affecting quality of life) and preventing larger crimes from occurring? Is it racial BS? Is that what this extraordinary reluctance is all about? Is the department and the city terrified that if they do their jobs, they might offend someone? Whom, exactly? Will the victims of violence, murder, assault, rape, robbery, and theft be offended? Will the citizens who have to tolerate their deteriorating quality of life be offended? Will the businesses who see their customers flee be offended? Or, is it simple ignorance (maybe the Chief hasn’t heard about NYC’s success in fighting crime - it’s only the biggest g*&#am city in the country, after all)? Either way, Chief, if you don’t want to do your job, then step down. Let someone who actually wants the job take it.

  4. I thought Indiana had all the funding it needed for everything. That's why the state lottery and casino gambling were allowed, as the new tax revenue would take care of everything the state wanted to do.The recommendations sound like they came from California. Better think about that. What is the financial condition of that state?

  5. I was a fan of WIBC in the morning, Steve was the only WIBC host that I listened too, he gave the news with so much flare that I enjoyed listening to him on my way to work. Katz is no Steve. Sadly, I will not be listening to WIBC anymore.

ADVERTISEMENT