The Memorial Hospital officials project they have lost about $30,000 to date on the purchase and sale of its houses surrounding the current site. But other proceeds and rent money from the houses is going into a fund for a new hospital.
Three of the 12 houses bought by TMH have yet to be sold. Hospital officials bought the houses on Russell and Tucker streets in 2000 and 2001 when the site around the hospital was being considered for hospital expansion. However, a site west of Shadow Mountain Village at property owned by Colorado Northwest Community College has been chosen as a future site for the new hospital.
Two of the hospital's houses and a parking lot are being left out of the sale. TMH officials plan to use the two hospital houses to house traveling nurses.
"My thinking is that (the houses) are assets," said board member Melton Sullivan. "We hope that we won't lose on them overall."
TMH Administrator Randy Phelps said the hospital has gained about $80,000 in rent money from its houses during the hospital's years of ownership.
But, some of the houses were bought at a premium, said the hospital's chief financial officer, Roger White.
The hospital suffered a loss of more than $60,000 from the purchase and sale of two houses, one on Tucker Street and another on Russell Street. However, the hospital made gains of more than $33,000 on the sale of two other houses.
"We took a net loss at the time I'm sure, because we bought those houses at a premium," White said.
The hospital has been able to put away about $60,000 a month toward funds for a new hospital. To date, funds for a new hospital have topped $1 million.
In other news at Wednesday's night board meeting:
n Board members approved by a 5 to 2 vote to recommend Dr. Sean Griggs for Class 3 orthopedic surgery privileges.
n Board members unanimously approved the purchase of a replacement pickup for plowing. The board approved a bid of $19,092 for a Ford pickup from Craig Ford.