Snoqualmie Valley Hospital District may have found a new way to pay for its new hospital campus at the I-90 interchange with Snoqualmie Parkway.

Hospital officials will present their new plan to residents at a public hearing, set for 6:30 p.m. Tuesday, May 6 at Snoqualmie Middle School.

“This is not just about the hospital; this is about our entire community,” said Hospital Administrator Rodger McCollum. “We want the public to come and participate.”

The district is now proposing to fund its new campus through a partnership with a non-profit organization to use tax-exempt financing. The hospital would enter into a lease with the National Development Council, which would hold the title to the land. The NDC would issue some $50 million in tax-exempt bonds, “meaning we get a very low interest rate,” McCollum said.

Hospital unveils financial changes