Floyd Co. leaders decide how to spend millions from hospital sal - wave3.com-Louisville News, Weather & Sports

Floyd Co. leaders decide how to spend millions from hospital sale

New signs for Baptist Health Floyd on the former Floyd Memorial Hospital building. (Source: WAVE 3 News) New signs for Baptist Health Floyd on the former Floyd Memorial Hospital building. (Source: WAVE 3 News)
Sheriff Frank Loop (Source: Dale Mader, WAVE 3 News) Sheriff Frank Loop (Source: Dale Mader, WAVE 3 News)
Brad Striegel (Source: Dale Mader, WAVE 3 News) Brad Striegel (Source: Dale Mader, WAVE 3 News)

NEW ALBANY, IN (WAVE) - A county once strapped with debt is now getting the benefits of raising taxes without actually having to do just that. That's all thanks to the sale of Floyd Memorial Hospital to Baptist Health.  

The deed has been transferred, documents signed and initial payment has been wired. Over the next ten years, the county will receive $136 million.  

The Floyd County Council and the Floyd County Commissioners recently approved the first plans of what to do with the initial $75 million payment. Most of the money - $70 million - will be put into the Community Foundation of Southern Indiana. The other $5 million will go towards a four-year, $15 million capital improvement plan. A big portion of that is going to Floyd County Jail renovations.

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"We can fix the leaky roof, we can fix the plumbing and HVAC problems," Sheriff Frank Loop said. "We can move the kitchen to where it should be and we can feed those 1,000 meals a day that we prepare." 

Also part of the capital improvement plan are the highway department needs for trucks and paving, finishing the new Kevin Hammersmith Park, YMCA annual obligations and paying off $1.5 million of the general fund deficit. 

"We have a balanced budget for this year and the next few years," Floyd County Council President Brad Striegel said. "The way we are allocating funds right now we will have a balanced budget for the next few years at least." 

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Loop said he's pleased the already overcrowded jail building will finally be up to code standards, but he said additional funding will have to be set aside to house inmates out of the county.  

"We still have to carry on the regular things that we do, but we're going to have to move inmates," Loop said. "We can't be doing plumbing and electrical and things like when you've got inmates in that room." 

Loop said he plans to start discussions on the additional costs Tuesday with county commissioners.

The breakdown of the $15 million capital improvement plan:  

2016 - $5 million  

  • $1.5 million general fund deficit 
  • $500,000 election machine loans and computers 
  • $2 million Kevin Hammersmith Park 
  • $1 million buy new trucks and paving needs 

2017 - $6 million 

  • $3.5 million jail improvements 
  • $300,000 sheriff's department new equipment 
  • $1.2 million highway department trucks and paving 
  • $200,000 park capital improvements 
  • $800,000 YMCA annual obligations 

2018 - $2 million 

  • $750,000 highway department  
  • $1 million jail improvements 
  • $250,000 parks department 

2019 - $2 million 

  • $1 million jail improvements 
  • $500,000 highway department 
  • $500,000 parks department

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