The funds would support the emergency trauma center at the facility, which is due to open in April 2023. The Minot Area Growth Through Investment and Cooperation Fund’s screening council recommended the city approve the loan, but it still needs to be approved by Minot’s city council.
The MAGIC Fund currently has $7.7 million to allocate. The loan would take up 39 percent of its unencumbered funds.
Trinity Health will need to increase employment at the emergency trauma center and develop an asset retirement plan for the hospital and the Trinity East building within the next five years for the loan to be forgiven. Additionally, if the health system is absorbed in a merger, the remaining system must assume responsibility of the business incentive agreement.
