Department
Finance
Requested Action (Identify appropriate Action or Motion, purpose, cost, timeframe, etc.)
title
Request approval of a Resolution of the Board of Commissioners of Fulton County expressing its intention to advance Phase Three of the Project Care Initiative and pursue the acquisition, construction, equipping, financing and completion of a new hospital facility in South Fulton County pursuant to the arrangements with the Grady Health System and the Fulton-DeKalb Hospital Authority for the purpose of providing medical services and indigent care in Fulton County (The “New South Fulton Hospital Project”; authorizing the proper officers of Fulton County, Georgia to commence negotiations and take such other actions as may be necessary or appropriate to advance the New South Fulton Hospital Project; and for other purposes.
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Requirement for Board Action (Cite specific Board policy, statute or code requirement)
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Strategic Priority Area related to this item (If yes, note strategic priority area below)
Health and Human Services
Commission Districts Affected
All Districts ☒
District 1 ☐
District 2 ☐
District 3 ☐
District 4 ☐
District 5 ☐
District 6 ☐
Is this a purchasing item?
No
Summary & Background (First sentence includes Agency recommendation. Provide an executive summary of the action that gives an overview of the relevant details for the item.)
Scope of Work: The County, Fulton DeKalb Hospital Authority, the Grady Hospital Memorial Corporation have preliminarily determined the project cost of the “new South Fulton Hospital Project” will be approximately $900,000,000 of which $300,000,000, (the “County Portion” is expected to be paid by the county whether from legally available funds, or from the proceeds of the Authority’s issuance of one or more series or issues of tax-exempt or taxable bonds or revenue certificates, and the remaining portion of Project costs is expected to be paid through private philanthropic sources and funds provided by the Corporation. Subsequent to the approval of this Resolution, the Authority and Corporation will adopt Resolutions approving their respective execution, delivery and performance of any such intergovernmental contracts, development and funding agreements, bonds, and related documents. Prior to issuance of the proposed project financing the Corporation shall provide evidence to Fulton County that it has secured the private proceeds in an amount which, together with the Corporations funds and the County’s portion, is sufficient to fund the Project Costs.
Community Impact: Continue Fulton County’s commitment to citizen health.
Department Recommendation: Recommend Approval
Project Implications: Provides the County’s Commitment for $300M of Project costs
Community Issues/Concerns: None
Department Issues/Concerns: None
Fiscal Impact / Funding Source
Funding Line 1:
Will be assigned upon issuance of the Financing bonds through the Fulton DeKalb Hospital Authority.
Funding Line 2:
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Funding Line 3:
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Funding Line 5:
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