To take advantage of lower interest rates before the 2010-15 term expires, HCA has reviewed and extensively discussed several proposals and related guidance from professional advisors to refinance the 2000 Block 3 garage renovation project loan, and plans to make a decision this month.
The Board of Directors has also been following the status of Millennium Bank, that came to the aid of Hickory Cluster during the garage crisis and financed original and succeeding loans when other lenders would not. HCA learned this week that, without advance notice on Friday, February 28, 2014, the U.S. Office of the Comptroller of the Currency closed Millennium Bank and named the U.S. Federal Deposit Insurance Corporation as Receiver. All accounts, including loans and loan collateral deposits such as those held by HCA, were transferred to WashingtonFirst Bank, Reston, VA. Former Millennium Bank offices in Sterling and Herndon, VA reopened as WashingtonFirst branches.