page 1. County owns the asset known as the Glen Rose hospital. It had previously leased it to the Glen Rose Medical Foundation. Foundation said it wasn't financially able to continue to operate the hospital. Lease got reassianged to the Somervell County Healthcare Authority. Lease is a buck a year. Lease for SCHA is for 5 years (Section 1.02 a) SCHA has to operate the premises as a hospital. SCHA has to get county approval for borrowing more than 50,000 (and they did that last week). Finally spelled out in Section 5.03 that the cash reserves can only be used certain things. A little history in Section 5.04. SCHA will operate the Hospital without the intervention of private profit. Section b is about those Certificates of Obligation. "Under the terms of the Lease of the HOspital to the Foundation, the Foundation was obligated to reimburse the County for the debt service paid by the County... (Would have been 750,000 per year for over 30 years.) The County will not seek or require reiumbursement for the County's debt service on the existing Certificates of Obligation from the SCHA .....
This represents the new agreement after Somervell County created the Somervell County Healthcare Authority and the Glen Rose Medical Foundation transferred its rights to the SCHA. It appears to me, from page 4, that all previous business records, including (section 9) financial are no longer the property of GRMF but become SCHA's and thus are available for public information requests. There is a reference on these pages to the Glen Rose Healthcare Inc, which we know of as the 501a entity for doctors (section 2.4.1). 2.42.
It is intended that the current Management Personnel of the Hospital/Foundation remain in place after the transition. Section 2.11 talks about the *hold-back* money, whichiis part of the reason the SCHA is getting an auditor in for the 3 months when the Foundation was in transition, before January 2010. Here's video from December 2009 about what the holdback is.
I had wondered, and still have a few questions, about Pecan Plantation, partially answered in section 3. "Assignment of Clinic Leases- Foundation shall assigne the leases/subleases related to the Clinic. .. What I don't know is who is the landlord? Who owns the clinic building? In the details breakdown on the contract reassignements there are property deed descriptions for Holden Street, but nothing at all about the building at Pecan Plantation. Anybody know who owns it?
Somervell County Salon Blog is now an archive site. Commenting
not enabled. Comments!
http://www.glenrosemedicalcenter.com/pecan/index.html It also shares at least one of it's Doctors (ie. Julia Hutchinson) with the GRMC hospital in Glen Ro" width="60" style="float: left" >1 - jojoakaoscar
13 Mar 2010 @ 9:23:51 AM