City Council to Vote on the Sale of the Community Hospital
On Tuesday, October 4, 2022, the City Council will vote to consider selling the Community Hospital property for $0 to operator MWN Community Hospital LLC. According to a city staff report, both parties have agreed to a fair market sale price of $17.71 million. However, MWN reported roughly $26.65 million in operational losses after the hospital closed for the third time last year. The $0 purchase price is related to MWN’s operational losses exceeding the property market value.
The sale agreement with the city includes a condition that MWN use the property for non-acute health care services for community benefit. If the sale is approved, MWN plans to transform the property into a campus offering numerous medical and health services emphasizing behavioral health.
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