BY JOE RAGUSA KENTUCKY
FRANKFORT, Ky. – University of Louisville officials are defending their request for a $50 million loan from the state.
U of L bought Jewish Hospital in Louisville along with other properties owned by KentuckyOne Health. The deal went through earlier this month, but the university still wants $50 million dollars to help finance the acquisition.
“Every month, we’d have to think about the 600 people a month that would be admitted through the emergency room and the 220 people or so that are there in steady state,” University of Louisville President Neeli Bendapudi said. “Where would we send them? Where would they go? Given that the other places are full right now, and these are truly vulnerable people.
A member of conservative think tank Americans for Prosperity spoke during the hearing, saying the university and the state would be better off if they sought a loan through a private bank.
Some lawmakers expressed concern the loan would draw money from other areas, including education.
Officials with the university said the school would pay half of the loan back within five years, and then incrementally pay the rest back in the following years.
The loan will likely be considered when the legislative session starts next year.