York County adopts consent items that include resolution for up to $400 million WellSpan conduit bond

York County commissioners on Sept. 17 approved consent items that included a resolution authorizing a conduit bond issue of up to $400 million on behalf of WellSpan Health to support expansion projects at the health system's York campus, presenters said.

The resolution, presented during the meeting's public portion, would permit the South Central Pennsylvania General Authority to issue tax-exempt conduit debt for projects at the York campus. Kenneth Hansen, with the York County Economic Alliance and representing the general authority, told commissioners the authority had advertised and held a public hearing before the meeting "pursuant to federal law" and received no adverse comments.

The bond proceeds will be used for work on an eight-story surgical and critical-care tower that WellSpan officials said is part of a broader campus expansion. Andrew Walker, senior vice president of finance and treasury at WellSpan Health, described the project as a $427,000,000 effort that will add intensive-care capacity and modernize operating rooms. "We finished our last topping out ceremony yesterday. Very proud about that. $427,000,000 project underway," Walker said. He said the expansion is planned to add 72 new intensive-care unit beds, 21 modernized operating rooms and expand the campus to more than 600 beds, with occupancy expected in 2027 or 2028.

Commissioners and presenters discussed financing details. When asked about the difference between the $400 million bond authority in the resolution and the $427 million project cost, Walker said WellSpan will use excess cash on hand to cover the gap. "We're carrying excess cash to fund that difference, and we're trying to be good stewards and continue to defend and maintain our balance sheet. So we'll make up the difference in the funding," he said. Walker also said the system is targeting bonds in the four- to seven-year yield range and that the team will monitor Federal Reserve actions.

The commissioners approved a motion to adopt agenda items 1 through 35 by voice vote; agenda item 8, the WellSpan resolution, was included among those items. The record shows the general authority presenters indicated the conduit debt being proposed would be nonrecourse to both the authority and the county.

No formal roll-call vote specifically on the WellSpan bond was recorded separately in the meeting transcript; the resolution was part of the consent items the board adopted. Presenters said they had conducted the statutorily required public notice and hearing and reported no adverse public comments during the hearing prior to the meeting.

The county record does not include further conditions, specific pricing, or final closing dates for the proposed bonds in the public portion of the transcript. WellSpan officials said they expect construction to continue through 2027–2028 and that the project will create new jobs; Walker said the expansion is projected to add about 500 jobs to the region.