SAN LUIS, Ariz. — The Industrial Development Authority of the City of San Luis on Sept. 8 voted to amend a prior financing resolution to increase the authorized bond cap to $100 million for a planned Regional Center for Border Health medical campus tied to San Luis Community Hospital. The board approved the change by motion and voice vote during a regularly scheduled meeting where a quorum was present.

The amendment modifies a resolution first adopted Oct. 2, 2024, and extends the authority’s prior approval so the financing process can continue while developers work to secure a parity agreement from the U.S. Department of Agriculture. “What you have in front of you is an amending resolution to the resolution that you passed a year ago,” said Mr. Gimme, the meeting presenter, summarizing the measure.

Why it matters: the amendment raises the maximum authorized financing from about $80 million to $100 million to cover the anticipated bond issue and gives the project more time to complete required federal procedural steps tied to tax-exempt bond financing. Board materials cited an investment banker estimate that the actual bond issue is likely to be about $93 million.

During the discussion the presenter described the remaining hurdle as a so-called parity agreement from USDA, which he said is needed before the bond closing can occur. “If USDA gives its approval to a so called parity agreement, they’ll be closing in 8 weeks,” the presenter said. He told the board that otherwise design, permits and land acquisition are complete and that at least two contractors are prepared to proceed.

Board action: Director Joe Harper moved to adopt resolution number 2025-01 to increase the authorized financing to $100 million for the Border Health medical campus; President Gary Black seconded the motion. The board approved the amendment by voice vote. The record shows no nay votes or abstentions; the motion passed.

What remains: the presenter said the project is awaiting USDA action and described delays in Washington, D.C., staffing that have slowed decision timelines. He said the Regional Center for Border Health and its investment banker, Colliers, are meeting with USDA officials to seek the parity agreement. The board did not adopt additional conditions or direct staff to take further steps beyond approving the amendment.

The meeting concluded shortly after the vote. No additional formal actions on the project were recorded at the session.