HOSPITAL LEASE - Laserfiche WebLink

Home Browse Search

AMENDED AND RESTATED LEASE by and between CITY OF LAKEWOOD, OHIO AND LAKEWOOD HOSPITAL ASSOCIATION THIS AMENDED AND RESTATED LEASE dated as of December 23, 1996 (the "Lease"), is made by and between the City of Lakewood, Ohio (the "City"), a municipal corporation and political subdivision in and of the State, and duly organized and validly existing under the laws of the State and Lakewood Hospital Association (the "Lessee"), a nonprofit hospital agency, as defined in Section 140.01, Ohio Revised Code, now having its principal office in Lakewood, Ohio and the operator of' the healthcare facility known as Lakewood Hospital (the "Hospital'). Since 1987 major changes have occurred in the method by which many individuals ensure their abiIity to afford hospital care and in the selection of acute care providers by entities paying the costs of hospitalization and other costs; and Entities .paying the costs of hospitalization currently are insisting on a single contract providing for acute hospital care for all of its insureds or members in a large geographic area which has caused individual hospitals to enter into affiliations and other arrangements to meet the demands of those entities paying hospitalization costs; and The Lessee needs to affiliate the Hospital with other hospitals to provide in a single contract a large geographic coverage of hospital care and for that purpose proposes to affiliate with The Cleveland Clinic Foundation (~CCF") and the Cleveland Health Network and in order to effect that affiliation needs to enter into a revised lease with the City in order to accommodate that affiliation. STATEMENT OF INTENT PURPOSE The purpose of this Lease is to continue the services and traditions of the Hospital. The Lease will continue to relieve the City of any obligations or necessity of providing tax monies to subsidize the operation of the Hospital. Because of the affiliation with CCF that will be made possible by the Lease, the Lessee will be able to compete on a fair and equal basis with other hospital systems, enter business relationships necessary to insure its financial-well-being, establish the mass necessary to secure managed care contracts, continue healthcare services to residents of the City and develop new programs.