Florida State University\u00a0and the city of Tallahassee say\u00a0they’ve\u00a0reached a\u00a0deal on the sale of Tallahassee Memorial Healthcare. \u00a0<\/p>\n
The Tallahassee City Commission voted 3-2 in October for city staff to\u00a0enter negotiations,\u00a0though talks had been ongoing at the time.\u00a0FSU president Richard McCullough announced the\u00a0tentative\u00a0terms\u00a0Tuesday.<\/p>\n
ALSO READ: FSU, Tallahassee Memorial reject talk of taxing district as partnership debate intensifies<\/a> “This pending agreement is the result of positive collaboration with the\u00a0city\u00a0and a shared vision for the future of health care, education and research in our region,” McCullough said in a release announcing the memorandum of understanding.\u00a0<\/p>\n \nThe deal\u00a0is\u00a0not yet\u00a0finalized. It must be approved by the Tallahassee City Commission.\u00a0<\/p>\n “This agreement charts a bold, transformative path forward,” Mayor John Dailey said in a press release from the city.\u00a0 “Thanks to the dedication of professionals who refuse to accept the status quo, the future of health care in Tallahassee will be better. By aligning our hospital with one of the state’s premier universities to create an academic health center, we are redefining health care in a way that positively impacts the lives of residents locally and across the\u00a0region.”\u00a0<\/p>\n
\u00a0In an email to university employees, he said FSU\u00a0will pay Tallahassee\u00a0$109 million over 30 years for the hospital’s property and assets. The\u00a0school\u00a0will also commit\u00a0$100 million to facility upgrades and\u00a0$150 million to improvements for clinical and academic purposes over the next 10 years.\u00a0<\/p>\n