Under the agreement, if the sale of one or both pieces of land is completed, the hospital would make annual payments instead of taxes to the borough on all hospital-owned property in Towanda — including the $7.5 million addition the hospital is planning to build. Since Memorial Hospital is a non-profit facility, it does not pay property taxes to the borough. The yearly payments would equal the tax that would be owed on the land if the property were subject to taxation, according to the report.
One of the areas planned to be sold is a 15,585-square-foot park area. If the hospital buys this land, it would continue to allow the public to use a pavilion-type structure called a trail shelter which is located on the park grounds. The other land parcel is 238 feet and is located on the hospital campus.
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