How is this new agreement different from the letter of intent announced back in January? « The City of Lakewood, Ohio -
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How is this new agreement different from the letter of intent announced back in January?

  • Most significantly, the new proposal makes better use of community assets. By moving the proposed family health center across the street to the southwest corner of Belle and Detroit, it frees up more than 5 acres of land where the current hospital sits for redevelopment. This funds our future, producing revenue-driving opportunities, economic development and a visionary downtown district.
  • This proposal also creates a demolition/redevelopment reserve for the hospital property. The city has negotiated a reserve of $7 million of LHA assets to be used as the city sees fit in conjunction with the redevelopment of the hospital site.
  • Funding for the community health foundation has been preserved at $32.4 million, even though LHA assets have dwindled since the original agreement was presented.
  • The city negotiated a two-fold increase in the payments to be made for use of the hospital during the transition period.
  • As a result of these negotiations, we’ve received the Clinic’s assurances to provide 24/7/365 emergency care in Lakewood, work with the city to deploy a mobile stroke unit here, bring the family medicine residency and LGBT programs to the new health center, and a work with a community advisory board to include citizen input into new services.