UTICA, N.Y. – The Oneida County Local Development Corporation has approved a plan to bond an additional $75 million to help MVHS complete the Wynn Hospital in downtown Utica.
MVHS had already bonded $200 million, but said they needed more funding for overruns, property acquisitions, insurance and interest.
OCLDC voted unanimously to issue the bond.
“Now they'll be able to go out, secure their additional financing and the project will continue on its anticipated schedule,” said Jennifer Waters assistant secretary of OCLDC.
Last month, MVHS President and CEO Darlene Stromstad told NEWSChannel 2 she doesn’t anticipate having to borrow any more money for the project.
The hospital is expected to open in October of 2023.