Mickey Peabody, Chair of an Oversight Committee appointed by the Oak Valley Hospital Board to represent the interests of property owners who are co-financing construction of the new hospital, said that the Committee is moving into “an exciting and active phase” as construction of the new facility is now rapidly moving forward.
The committee meets quarterly with hospital management to review financial information to reassure the public that the $37 million in general obligation funds approved by District voters in Measure H have been wisely invested and will be appropriately expended as construction continues.
Peabody said that the last two quarterly meetings “focused on the very positive $5 million interest income generated by the bonds over the last few years,” but this week committee members began focusing on more specific aspects as construction expenses become more visible.
According to Peabody, the committee has the unusual challenge of oversight of Measure H general bonds that are a portion of the overall financing package for the hospital construction.
“We represent homeowners who have a major stake in this project with $37 million, but the hospital is generating another $37 million towards construction from reserves, revenue bonds and other sources,” Peabody said.
“The Oak Valley Hospital Foundation capital campaign will add another $3 million. This is truly a community and district wide project of major significance and we take our oversight responsibility seriously. The size and scope of this project requires incredible cooperation and collaboration,” she added.
The volunteer Oversight Committee reports its progress to the owners of Oak Valley Hospital through the media and public meetings. Peabody encourages residents of the District to attend the Oak Valley Hospital Board of Directors meeting on Wednesday, May 27 at 5:30 p.m. in the Charter Oak Room of the Oak Valley Medical Plaza, 1425 West H St., Oakdale, where the committee will make its quarterly report and invite comment from the public.
Those who are unable to attend the meeting are encouraged to contact any member of the Oversight Committee if they have questions or comments. In addition to Peabody, other members of the Oversight Committee are Robert Campbell, Jayne Hartley, CPA, Richard Hagerty, and Oak Valley Hospital Board representative Jim Teter.
The committee will recommend to the board that Henry Raven, Pastor of the Sierra Foothills Community Church, be appointed to succeed Pastor Thomas Warren as a member of the committee. Pastor Raven has served Sierra Foothills for the past six years. He and his wife previously served with the Salvation Army in Clovis. Pastor and Mrs. Raven reside in Oakdale with their youngest children, ages 12 and 14. They also have four adult children.Individuals may also email questions or comments to firstname.lastname@example.org