Industry Bulletins | April 11, 2017
Champaign County Nursing Home Vote Results Cause Concern Among Residents, Staff
Residents and staff of Champaign County Nursing Home in Urbana, Illinois are worried after voters decided not to pass a property-rate tax increase of $0.07 per $100 of valuation that would help fund the facility. Voters also authorized the county to sell or dispose of the nursing home in a 54% to 46% decision. The vote comes as a result of continued financial losses for the facility of over $100,000 per month, and a total debt owed of $3.3 million as of January, 2017.
There are three possible results after these votes: the facility will need . . .