Salt Lake City-based financial organization Argenta Group would take out a loan to finance KMC under the deal. Clark County would create a lease with Argenta and then sublease it to the hospital’s operators, according to the report.
While the letter was approved and sent to the county council with a favorable recommendation, there were other conditions of the deal. These included that Clarksville would receive a portion of KMC’s property tax, a research center would be constructed in the county within three years and interest payments made to the county total $250,000, according to the report.
KMC filed for Chapter 11 bankruptcy in Sept. 2010, and it has been trying to restructure its debt since then.
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