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Akron Children’s Hospital – Mansfield

Issuer(s)
DFA
Investment Amount(s)
(in millions)
$6.3M
Closing Date
February 13, 2018
County
Richland

Akron Children’s Hospital (ACH) Medical Center is expanding medical services and their footprint.  ACH partnered with the City of Mansfield, Development Finance Authority and Raemelton Park Developers have to construct a new two (2) story, 45,000 square foot medical office to be located in the City of Mansfield.

DFA issued Taxable Development Revenue Bonds to assist in financing the $14.5M project.  With the DFA issuance, the purchase of construction and building materials are exempt from state and local sales taxes.

During the construction phase of the project, approximately 130 new jobs will be created.  Upon completion, there will be an additional 25-30 new jobs created for doctors, nurses and additional support staffing.

Brouse McDowell served as Bond Counsel and DiPerna Advisors served as Financial Advisor for the project.