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Tax-exempt loans granted for Meadville Medical Center’s Vernon development

Submitted Fri, 11/22/2013 - 10:20am by Andy Alm

MEADVILLE – Twenty-five million dollars in loans are being granted for the Vernon Village development of Meadville Medical Center.  As required by county code, Crawford County Commissioners gave their approval to 15-million dollars… making up the tax-exempt portion of those funds. 

The loans were acquired at a reduced rate by the Crawford County Hospital Authority.  County Solicitor Ted Watts said the county’s signatures do not mean the county will be held liable if the hospital fails to make payments.

The Vernon Village is being built on the current K-Mart lot, which used to be home to the Meadville Mall.  It will have a multitude of outpatient medical services in addition to retail shops and restaurants.