This ordinance approves the issuance of Lease Revenue Bonds for the Mayo/Brooks Rehabilitation Facility Project, located on the Discovery Oasis Campus. The bonds, not to exceed $125,000,000, will finance the development, acquisition, construction, and equipping of a 60-bed healthcare facility. The Phoenix IDA previously resolved to issue the bonds, which will support the construction of this state-of-the-art rehabilitation facility, catering to the growing need for healthcare services in Phoenix. The facility will be operated by Brooks West Rehab Services, Inc.
This decision provides necessary funding for the development of a modern healthcare facility, addressing the increasing demand for rehabilitation services in Phoenix and fostering economic growth in the medical sector.