NEW HARTFORD, N.Y. — Bank of America (NYSE: BAC) has donated $250,000 to the Mohawk Valley Health System’s (MVHS) hospital project in downtown Utica.
The check presentation was held Monday night at Yahnundasis Golf Club in New Hartford.
The cost projection for the regional health-care campus is pegged at $480 million for a 373-bed, 672,000-square-foot facility. MVHS in April 2017 was awarded a $300 million state grant for the hospital project. The remaining $180 million will come from MVHS capital, other financing, and fundraising.
MVHS expects to break ground on the project in late 2019 and that crews will finish the project in 2022.
MVHS is an affiliation of Faxton St. Luke’s Healthcare and St. Elizabeth Medical Center, both of Utica. The two organizations teamed up in March 2014.
“Bank of America is thrilled to be a part of Utica’s downtown transformation through our $250,000 grant to Mohawk Valley Health System of Utica,” Michael Brunner, Syracuse market president for Bank of America, said in the release. “This landmark construction project will spark what is sure to be an exciting future for the city of Utica, and will provide area residents with the most advanced medical care available in one centrally-located hospital. Bank of America has been and will continue to be a committed community partner with the mission of aiding in the economic and workforce development of the areas we serve.”
Bank of America, headquartered in Charlotte, North Carolina, employs more than 600 people in Utica, per the news release.
“We deeply appreciate Bank of America’s partnership; this grant will allow us to break ground on our new, cutting-edge medical center, bringing resources and medical technology needed by the Mohawk Valley community,” Darlene Stromstad, president and CEO of Mohawk Valley Health System, said in the release. “Bank of America’s commitment to this project reflects their dedication to Utica’s physical health and economic health. With their help, MVHS will be a major part of the downtown restoration effort.”
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