Chesterton Tribune

 

 

Private foundation eyed for hospital sale proceeds

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The Porter County Commissioners Tuesday will discuss the creation of a private foundation for the investment of the proceeds from the sale of Porter Memorial Hospital with County Council President Dan Whitten, D-at large.

The Commissioners meet at 1 p.m. in Room 205 of the County Administration Building, 155 Indiana Ave. in Valparaiso.

Both boards have held discussions throughout the year on getting the best return on investment of the funds.

The goal is to generate revenue to offset the general fund deficit.

After researching options with Hall Render of Indianapolis, the Council in May voted unanimously in favor of creating a new community foundation managing an endowment using hospital sale proceeds. County officials would retain control over the funds.

Commissioner President John Evans, R-North, who favors creation of the new foundation, encouraged his colleagues to study what new laws are likely to be enacted by the Indiana General Assembly in its next session.

There is momentum in the Statehouse to give county governments the ability to hold longer term investments, Evans said, and the County would be able to invest part of the hospital sale proceeds if those proposals become law.

Also on the agenda is a public hearing on the Commissioners’ plan to reestablish the maximum tax rate of the Cumulative Capital Development fund to .0233, or 2 and 1/3 cents per $100 of assessed valuation. The Commissioners said they are reestablishing the rate which could generate funds to pay for capital items that have been paid for the past few years out of the general fund.

Shifting the items will ease the overall tax rate on the General Fund and even though the CCD fund could rise, Evans said he expects the overall County tax rate to be cut as the County’s total assessed property values are expected to rise next year.

The current CCD rate has been static at .018 for at least the last two years.

In requests from department heads, Juvenile Detention Director Alison Cox will ask the Commissioners to approve a memorandum of understanding with the school safety program director as well as approval of the detention center’s alternative initiative program continuation grant.

ITS Director Sharon Lippens will speak to the Commissioners about updates to the County’s mainframe and a digital management system contract for the Memorial Opera House.

DLZ Indiana will continue its discussion about the air conditioning replacements for the E-911 dispatch room and the Sheriff’s server room.

 

 

 

Posted 7/14/2014