Blue Island, IL, OKs tax breaks for new owners of St. Francis Hospital
Chicago Tribune, May 16, 2008
The Blue Island, IL, City Council has voted unanimously to give New York-based Falcon Investors tax breaks to redevelop St. Francis Hospital and retool it as a regional, for-profit medical center. The tax breaks would flow from a tax increment financing district set up around the hospital. Falcon is taking over the hospital from SSM Health Care, which announced it would close the facility because of financial losses due to treating uninsured and underinsured patients.