Under the resolution adopted, the Fulton Dekalb Hospital Authority — Grady’s current ten-member board — will create the Grady Memorial Hospital Corporation composed of 17 members. Four of them will be members of the current board.
The nonprofit board will have a lease agreement with the current board. Several conditions of the proposal hinge on that agreement, including a $200 million four-year commitment from the business, charitable and philanthropic communities — including $50 million in cash or in escrow before the lease agreement is executed.
There also must be a commitment to raise $100 million in private donations over three years by the same groups, plus $30 million from the state.