University of Chicago Medical Center moving forward with plans for hospital pavilion

The University of Chicago Medical Center is forging ahead with a major financing plan to pay for a large part of its new hospital pavilion despite a turbulent economy that has triggered layoffs and spending reductions at the facility this year. The medical center plans to issue bonds to raise $225 million through the Illinois Finance Authority to support the university's capital projects, "highlighted by the construction of a new patient tower pavilion on the main campus," according to a report released by Moody's Investors Service.