Piedmont Health Care Center Approved for Refinance
Piedmont City officials voted unanimously to allow the Piedmont Health Care Center to refinance and consolidate $2.1 million in building debt in order to increase cash flow and improve its services. The city allowed the care center to take out a commercial loan in order to consolidate. City council members then agreed to reduce the center’s monthly payments from $42,000 to just $20,000.
The refinancing of the building will help provide additional funds for facility upgrades. Some of those upgrades will include a rehabilitation gym and the construction of a new wing that would add 12 private rooms to the 12 the facility already has.