Rock Island County Still Owes Nearly $2.5 Million in Debt for Former Hope Creek Care Center | Local News
Rock Island County still owes millions of dollars in debt to Hope Creek Care Center, the county’s former retirement home.
In a report to county board members Wednesday night, Rock Island County Treasurer Louisa Ewert said the county owed $1.9 million to the county’s liability fund and $500,000 in warrants. tax anticipation for the former Hope Creek Care Center, totaling $2.4 million in debt.
Ewert said the TAW balance should be paid by early summer.
The county-owned retirement home at 4343 Kennedy Dr., East Moline, was sold for $4 million to Infinity Health Care Management in September 2020.
The county has made progress in paying down the debt, however. At the time of the sale of the facility, $15.4 million was owed for the nursing home. This debt included $8.2 million on the mortgage and $460,000 owed to vendors.
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After the facility was sold, the county’s credit rating was raised by Moody’s Investors Service from A3 to A2, in part due to an annual savings of $2 million that the county no longer paid to run the facility or for employee IMRF and FICA funds.
County residents will continue to be taxed separately on settlement, as Illinois law allows the county to levy a tax on nursing homes as long as there is an outstanding debt.
Hope Creek was built for $24 million in 2009, replacing its predecessor, Oak Glen. The facility now operates as Hope Creek Nursing & Rehabilitation Center.
Photos: throwback to JI Case in QC