Grady agrees to form nonprofit board.

November 26, 2007 22:34 pm

by Buzz Brockway · 2 comments

You’re going to have to pay $30 million. I doubt that’s what Vincent Fort was upset about. Nevertheless, Grady did agree to do what everyone wanted them to do.

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.

Harry November 26, 2007 at 11:02 pm

According to the AJC, the Grady Board is demanding conditions that will result in their control of lease negotiations and other conditions which will effectively result in the Fulton/Dekalb political class being able to keep their fingers in the pie…that is, business as usual, with no new business model or real reform being possible.

Anyway, I take it we’re in the negotiation stage. Hopefully Sen. Shafer, who we all recognize as the “outsider” with the most background and knowledge on this matter, can get his digs in.

saltynuts November 26, 2007 at 11:24 pm

Hell, Buzz, I live in DeKalb. I get to pay $130 million.

I’m rich!!

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