Mercy Health to Build New Hospital Near KHS
On Monday, January 12, 2021, Mercy Health - Cincinnati announced that they will build a new $156 million, 60-bed hospital and medical office complex on the old “Hall of Fame” site located just west of Kings High School. The sale of the more than 30-acre site, owned by Great American Insurance Company was part of a $600,000 incentive package from the City of Mason.
Ordinarily, hospitals are tax-exempt projects that don’t provide any direct benefit to the community. In this case, the Kings Local School District would lose the current value of the site and associated tax revenue because of the tax-exempt status. However, a project of this magnitude will have an indirect economic benefit to the school district and community.
It is unclear whether the taxation of the Medical Office Building, which is included in the initial phase and in future phases of the project would benefit the district. Kings Treasurer, Cary Furniss said, “The taxability will depend on the usage and services that occur in the building which is unknown at this time.”
The indirect impact could be very positive for the District given that Bon Secours Mercy Health is one of the 20 largest health systems in the United States. “The hospital has the potential to spur additional investment in the District that could be an economic benefit given the footprint of their organization,” he said. Additionally the economic impact on surrounding commercial and retail is likely to be positive with the development of the site.
The Kings Administration has had an initial conversation with the leadership team at Bon Secours Mercy Health and we believe this is an opportunity for us to partner with them during the development process and beyond.
Learn more about the project in this press release.