BY BOB KASARDA, Times of Northwest Indiana
bkasarda@nwitimes.com
VALPARAISO | The Porter County Council and commissioners received copies late last week of the proposed sale agreement involving Porter hospital, which includes possible receipts of $80 million to $100 million in addition to construction of a new hospital.
Already county officials have differing views on how the proceeds should be used.
Porter County Council member Bob Poparad said he would like to see the money dedicated for health care needs in the county "in some form or some fashion."
Fellow council member Dan Whitten agreed.
However, council member William Carmichael said he would like to see any residual money from the sale placed into the county's general fund to reduce property tax rates.
There is also talk about setting up a foundation with the money, council member Matt Murphy said.
Murphy said he has a lot of questions and concerns that need to be addressed before he makes up his mind on that proposal. He wants to know how the foundation would be structured and who would be responsible for the money.
The council members said they are still working their way through the lengthy and complicated sales agreement and are not ready to discuss any more of the details.
Approval of the hospital sale will be up to the County Council and commissioners and the hospital board at a public hearing following a 10-day period when all relevant documents will be made available for public viewing. Officials hope to wrap up the sale by May 1.
The hospital board entered into a letter of intent in December to sell to Triad Hospitals Inc., a for-profit health care company based in Plano, Texas. Triad announced last month it had agreed to be taken private by affiliates of private-equity firm CCMP Capital Advisors and Goldman Sachs' GS Capital Partners.
Whitten said he doesn't feel he really has a choice but to agree to the sale considering the hospital's debt and outdated facilities. His goal is to make sure the buyer is planning on sticking around and providing quality health care in Porter County.
Triad officials are reportedly visiting hospital facilities, as well as eyeing a proposed site for a new hospital on 60 acres at the southwest corner of Ind. 49 and Vale Park Road. Porter has an option on the land until July.
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