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Health & Wealth

Funding for Fulton Mental Health Facility approved

hospital room
jodimarr
/
Flickr

A Missouri board has approved a bond issuance to finance a new mental health facility at the Fulton State Hospital.

The vote this week by the Missouri Development Finance Board authorizes the issuance of $98 million of bonds this year as an initial phase in the financing. 

By approving the project, the board also signaled its intent to authorize up to a total of $220 million of bonds, with additional rounds of bonding expected in 2015 and 2016.

The Fulton State Hospital is Missouri's only maximum-security psychiatric facility.

The bonding is the result of a measure passed this year by the Legislature and signed by Gov. Jay Nixon. It will pay to demolish old buildings and replace them with 413,000 square feet of new facilities.

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