Alice Peck Day Memorial Hospital PILOT Agreement

The City of Lebanon and Alice Peck Day Memorial Hospital have entered into a 20-year Payment In Lieu of Taxes (PILOT) agreement. The agreement provides for the hospital to make annual contributions to the city in exchange for tax exemptions on certain properties. The contributions will increase by 2.5% each year, and the hospital will also provide additional funding for the city's fire department, including the cost of physicals for firefighters and contributions towards the purchase of a new ambulance. The agreement also includes provisions for the hospital to provide community benefits, such as free or low-cost healthcare services, and for the city to provide interfacility transports for the hospital. Key points of the agreement include: * The hospital will make annual contributions to the city, starting at $299,000 in 2023 and increasing by 2.5% each year. * The hospital will provide additional funding for the city's fire department, including the cost of physicals for firefighters and contributions towards the purchase of a new ambulance. * The hospital will provide community benefits, such as free or low-cost healthcare services. * The city will provide interfacility transports for the hospital. * The agreement will be in effect for 20 years, with the option to renew or extend the agreement after the initial term.