By
Jessica Parks, Philadelphia Inquirer
NORRISTOWN
The Montgomery County commissioners on Thursday moved ahead with plans to sell
the Parkhouse geriatric center in Royersford and the Human Services Center in
Norristown by authorizing the retirement of $19.75 million in outstanding debt
on the two properties.
About
$13 million of that is for the Human Services Center, and $6.75 million is for
Parkhouse, said chief finance officer Uri Monson.
The
sales are not yet complete, but Monson said the county must notify bondholders
in advance if it wants to pay off the debt early.
Parkhouse,
which is being sold to a private nursing-home company based out of Maryland, is
still in the due diligence phase. Commissioners Chairman Josh Shapiro said the
sale is on track to close Jan. 31.
The
Human Services Center is in final review and should close in mid- to late
January, Shapiro said.
The
sale of the two complexes would reduce the county's outstanding debt by 4.6
percent, to $407 million. On an annual basis, the county's debt service would
drop about $1 million, Monson said.
A
group of residents opposed to the sale of Parkhouse - and in particular, the
inclusion of about 200 acres of surrounding undeveloped land - is planning
another protest on Saturday in Norristown.
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