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Hospital authority approves $5.8 million construction loan for Sooner Town Center 2
Summary
The Midwest City Memorial Hospital Authority approved a three‑year, $5.8 million construction loan to Sooner Town Center 2 at 4.5% interest. The loan will be disbursed by drawdown as construction invoices arrive and is expected to be repaid when the project secures permanent financing.
The Midwest City Memorial Hospital Authority approved terms for a three‑year construction loan to Sooner Town Center 2 totaling $5,800,000, with interest at 4.5 percent. The authority will disburse funds on a drawdown basis as construction costs are submitted for payment.
An authority representative explained the structure: the loan is for 36 months, interest accrues after draws, and Sooner Town Center 2 will be expected…
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