The Observation Deck

Kevin D Young wrote:Brian, Nice easy to understand breakdown of how to take the hospital we have and improve it. It's thinking like yours that actually BUILDS LAKEWOOD instead of what the contradictory named organization pretends to advance.

Corey wanted to know earlier if it is an industry standard to put non-competes in place. Good question, but regardless of the answer, why should we shrink to fit? True American Capitalism reins supreme over any localized non-compete. There are plenty of health care systems out there. A wise and prudent plan would take full advantage of our free and open market place. It's not like the NFL where there are a limited number of franchises. There were 3 offers made. Where was the competitive bidding? We are in the catbird seat and we yet city officials acted like we were being held hostage. Something is terribly, terribly wrong with this deal.

These numbers are all right in the public record--easy for anyone to find if they have any intellectual curiosity or are civic minded and diligent.

"Ask and it will be given to you; seek and you will find; knock and the door will be opened to you." Matthew 7:7

Brian, Was not aware they were in the public record. I would not begin to know where to find them. I'm here to learn. Got a link?

Apparently Council missed them too.

Thanks!

Kev

Brian Essi wrote:$22M in rent and income taxes.
$55M in capital improvements to the hospital.
$250M in economic activity per year X11 $2.75 billion.
Hospital is rebuilt with $65M bond offering and CCF matches cash to debt per the contract.
CCF operates it in a profitable or break even manner so it avoids covering losses per the cash to debt ratio it is liable for.

Then we would be free of CCF's grip and we could market the relatively new hospital another hospital system that truly cares about us or CCF renews for second 30 year term to avoid losing its market share.

What's so difficult about honoring an agreement and having accountability?

Kevin,

There is no direct link that has it all---that's not how the executive branch of our City operates.

The rent and income taxes come from the Jenn Pae's report on the "financial impact" of the original LOl---As I recall payroll income taxes were $990K 1.5% X $65M payroll and the rent is on the 1996 Lease which is on the website $1.1M per year or so.

The 1996 Lease and Definitive Agreement call for $5M per year in capital improvements times 11 years left.

The $65M number comes from the LHA Minutes from 2008-2009 approving the $65-$69M CCF Westlake Reid architect's plans subpoenaed and obtained and filed in the Taxpayer lawsuit filings

Jen Pae and City Hall refused to do an economic impact statement, by CCF/Cleveland.com and Ms. Harkness each published numbers that are higher than the $250M I rounded down to.

Finally, the cash to debt ratio requiring CCF to pony up cash and leave it in or leave LHA debt free when CCF leaves is right in the 1996 Definitive Agreement posted on the City website.

For anyone who is a fan of CCF as a "world class" healthcare provider, the analogy given by Dr. Jim (Lakewood's premier mental health guru) is that we had a prize stallion locked in to Lakewood's stable till 2026, and Summers opened the gate and let it run. I would add, if that analogy applies, all it took was the City being a good stable-keeper.