Gazette: Voters Overwhelmingly Approve Memorial Lease

Published by The Gazette | Written by Andrew Wineke | August 29, 2012

Ricardo Munoz of RMS Sign Co. puts a new banner bearing the University of Colorado Health logo over an existing Memorial Hospital sign Tuesday night, August 28, 2012 after it was announced that Colorado Springs voters had voted Tuesday to lease the city-owned hospital to University of Colorado Health. Photo by Mark Reis, The Gazette 

Colorado Springs voters on Tuesday overwhelmingly approved a plan to lease city-owned Memorial Health System to University of Colorado Health.

The proposal passed, 83 percent to 17 percent. About 41 percent of registered voters cast ballots in the mail election.

The lease agreement will pay the city $74 million up front and $5.6 million annually, which the city plans to put into a new foundation dedicated to local health needs. UC Health will also pay $3 million a year toward establishing a medical school at the University of Colorado at Colorado Springs.

Mayor Steve Bach called the result a “mandate” for the decision to lease the hospital.

“We are at the doorstep now of a wonderful future,” said Mayor Steve Bach.  “I’m so proud to be standing here today and so thankful.”

Read more: http://www.gazette.com/articles/health-143849-colorado-city.html#ixzz24x0b5cfv