Fairfax County supervisors on April 11 were set to authorize the county’s Industrial Development Authority to issue health-care revenue bonds periodically to support capital projects undertaken by Inova Health System.
The bonds will pay for outstanding indebtedness and the financing and refinancing of new projects in Fairfax County.
Some of the bond proceeds will be used to finance and refinance the cost of constructing, renovating and equipping capital projects at Inova facilities in Fairfax, Fair Oaks and Mount Vernon.
Improvements at Inova Fairfax Medical Center Campus include relocation of several hospital units; renovation and repair of elevators and escalators; and construction and renovation of ambulatory surgical facilities, laboratories, the Inova Heart and Vascular Care unit and other areas of the campus.
Upgrades planned for the Inova Fair Oaks campus include renovation and replacement of air-handling units. At the Inova Mount Vernon Campus, the health system plans to fit out shell space for a new behavioral-health unit, modernize elevators and install a new air-chiller system.
Inova also plans to make additional routine or miscellaneous capital-improvements, additions, renovations and equipment purchases at all of the above locations, including buying medical and information-technology equipment.
Inova’s revenues will support the bonds, which will not constitute a debt obligation to the county or the Board of Supervisors, county staff said.