Council grants procedural approval for Johns Hopkins All Children's $70M expansion bond financing
November 06, 2025 | St. Petersburg, Pinellas County, Florida
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City staff said the action is a procedural step under federal law (Internal Revenue Code) required when tax‑exempt private activity bonds will finance a project located in the approving municipality. The project described to council includes an expanded emergency department pathway, an enlarged surgery platform, a permanent MRI imaging suite and a steam line from the campus central plant; staff estimated financing needs at about $70 million.
"This is something that we have to do and we just have to approve," Council Vice Chair Hanowitz said during the meeting. Staff reiterated the city is not contributing cash but is providing the required local approval under Section 147 of the Internal Revenue Code that makes the issuance permissible for the facility location.
Council approved the procedural resolution by unanimous vote. City staff said project representatives and bond counsel were present in the audience but the council's action on Tuesday did not obligate the city to spend local funds.
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