An Update from Cuyahoga County Councilman Dale Miller
The below is an update provided by Cuyahoga Councilman Dale Miller.
On Tuesday, April 12th, County Council passed a very significant piece of legislation that will assist with the MetroHealth Hospital Campus Transformation Project. This $865 million project is very much needed as MetroHealth has some facilities that are over 100 years old and have way outlived their usefulness. The existing facilities are just not designed for efficiency, cost-effectiveness, and highest quality healthcare. In the long run, MetroHealth must do this project in order to continue to provide high quality health care services, regardless of ability to pay.
MetroHealth is going to finance most of this project by issuing their own bonds. Cuyahoga County is going to help by purchasing a letter of credit to provide the debt service reserve needed to protect the bondholders in case financial projections are off target. The letter of credit will save MetroHealth about $160 million in debt services costs over the 40-year cycle of the financing plan. In things go as planned, the letter of credit will cost the County only a very small fraction of that amount, because the County’s good credit as a back stop is the main thing that we are providing.
Construction of the project is expected to begin next year. The major elements at the main campus off West 25th will be completed by 2022, while some of the satellite elements may be completed as late as 2025. This is a legacy accomplishment for County Council President Dan Brady; he played a major role in bringing the right parties together to make this deal happen.
Cuyahoga County is in the process of developing a 5-year Health and Human Services Plan, implementing the legislation that I prime-sponsored and passed last year with Executive Budish.
As part of the information gathering process, the Department of Health and Human Services is holding four public forums on the Health and Human Services Plan. The last of the 4 is in my district on Monday, May 1, from 6 PM to 7:30 PM at the Women’s Pavilion at Lakewood Park at 14532 Lake Avenue in Lakewood. I would encourage everyone to attend this event and give your input on how to improve health and human services in our county. They are using a small group “world café” format which makes it easy for people to participate.
Mark your calendars! Carol and I are having our annual FREE Ice Cream Social on Wednesday, June 7th from 5:00 to 7:30 PM. This event is at the same Women’s Pavilion location as the HHS Forum. If you are planning to attend, please email me at email@example.com and let me know how many are coming.
If you have comment on this report or I can be of assistance, please contact me at firstname.lastname@example.org or 216-252-7827. GO TRIBE!! GO CAVALIERS!!