- Health District Board Gives Final Approval to Amended Operating Lease With PVHS (March 2012)
The board of directors of the Health District of Northern Larimer County voted to give final approval to amendments to the operating lease under which Poudre Valley Health System (PVHS) operates the Health District-owned Poudre Valley Hospital. The board's action was in response to a request by PVHS for changes required to enable a joint operating agreement under which PVHS and University of Colorado Hospital have combined to create a new regional health system, University of Colorado Health.
The Health District leases Poudre Valley Hospital and certain other assets to PVHS, which has operated them under terms of a 50-year operating lease signed by the two organizations in 1994. The amendments to the current operating lease, which are contained in an Operating Lease Amendment and Consent Agreement, were approved by the Health District board following a period for public comment and a public hearing held Feb. 16.
The terms of the Operating Lease Amendment and Consent Agreement provide for:
an extension of the term of the operating lease by 18 years, from 2044 to 2062;
- commitments by the new health system and PVHS to continue providing adequate levels of high quality healthcare services to the local community (including to those unable to afford the full cost of care) through local hospitals and other facilities;
- flexibility for the new health system to seek future financing on more favorable terms, including to provide for capital needs of PVHS; and
- an adjustment of the present lease payment that was originally established in 1994.
The Health District board determined that these changes were in the best interests of the local community and that the proposal by PVHS to join with UCH in a larger, regional health system will better position the PVHS system for future success amid looming changes that will have major effects on the
The Health District is a public agency that provides dental, mental health, prescription assistance and health promotion services to the residents of northern Larimer County, in addition to its duties with respect to PVHS.
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