CONSTRUCTIONAMENDED

Fayette County Industrial Development Board AgendaPacket 2026-06-08

Hospital Development Agreement Amended for Baptist Memorial Project

Fayette CountyBAPTIST MEMORIAL HEALTH CARE CORPORATIONJune 8, 2026

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Description

Fayette County Industrial Development Board approved a first amendment to its Hospital Development Agreement with Baptist Memorial Health Care Corporation, revising fund dispersal timing and refinancing terms related to hospital construction. The amendment sets $6 million in County-contributed funds and a financing principal of not less than $12 million, with maturity not later than 20 years from projected completion.

Contract Details

Vendor

BAPTIST MEMORIAL HEALTH CARE CORPORATION

Agency

Fayette County, TN

Contract Type

CONSTRUCTION

Document Date

June 8, 2026

Contract Term

Effective Date: May, 2026; amendment to March 6, 2026 agreement; financing maturity not later than 20 years from projected Completion Date

Renewal Info

First amendment modifies sources/timing of fund dispersals, increases transparency, clarifies refinancing allowance, and reaffirms original agreement as amended. Maturity to be not later than 20 years from projected completion. No further renewals referenced.

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