TROY, AL (WSFA) – Troy Regional Medical Center is once again under the ownership of the city of Troy.
The Troy City Council agreed to buy the medical facility from its current owners after they couldn't make the payments anymore.
"They were undercapitalized and not having enough dollars to meet the needs they just got into a situation where it didn't work," says Jimmy Lunsford, Mayor of Troy.
To fund the purchase the city council is considering a one cent sales tax increase.
"Not knowing what expenses we might incur initially the city council made a bold move and decided to put a one cent sales tax on last night for a period of time," says Lunsford.
Mayor Lunsford says he wants a referendum in the next twelve months where those living in the city can vote to keep the tax increase or dissolve a trust fund to pay for the hospital.
"Ask the people of the city of troy would you prefer to break the trust fund to pay for the hospital and its operations or would you prefer the one cent sales tax to continue and trust fund stay in place," adds Lunsford.
No matter what outcome city officials say the transition will be a seamless one.
The transfer of the hospital becomes effective at midnight Friday.