Trinity expansion project funding will come from several sources

2013-01-24T22:52:00Z 2013-01-24T22:53:59Z Trinity expansion project funding will come from several sourcesDeirdre Cox Baker The Quad-City Times
January 24, 2013 10:52 pm  • 

The $61.3 million project at Trinity Rock Island will be paid for with a combination of internal reserves, borrowing and a capital campaign run through the Trinity Health Foundation, officials said Thursday.

Funds that are borrowed for the project will come from Trinity’s parent organization, Iowa Health System, which is based in Des Moines.

“Iowa Health System’s financial support of this project is a vote of confidence in Trinity, and in the Quad-Cities,” said Bill Leaver, the president and CEO of Iowa Health. Leaver formerly was president and CEO of Trinity Regional Health System.

Trinity officials emphasized in their initial announcement of the project on Wednesday that its board of directors is committed to keeping local dollars in the community by partnering with Quad-City companies to do the work.

An estimate on the number of construction jobs that will be created by the project was not available Thursday.

Area contractors involved in the project:

- Gere Dismer Architects, Rock Island, is the local design firm, pairing with Cannon Design, a global company that has offices in St. Louis and Chicago. Cannon recently won a hospital design award for the King Faisal Specialist Hospital and Research Centre in Riyadh, Saudi Arabia.

- Paragon Commercial Interiors, Davenport.

- KJWW Engineering, Rock Island.

- Missman Engineering, Rock Island.

- Russell Construction, Bettendorf, pairing with Pepper Construction Group, Chicago.

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