Durham Regional lease may be extended
Published: Sat, Oct. 11, 2008 12:30AM
Modified Sat, Oct. 11, 2008 02:06AM
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closeDURHAM -- Durham County and Duke University are talking about indefinitely extending Duke's lease on Durham Regional Hospital.
If approved, Duke's present 20-year lease would be extended to 40 years and automatically renew each year for 40 more until one party says "stop" -- with 40 years' notice. The new lease would replace the current one, which has 10 more years to run.
As long as the lease is in effect, Duke would also make annual payments to the county's Emergency Medical Services department and Lincoln Community Health Center, adjusted each year to rise with the Consumer Price Index.
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Commissioners' Chairwoman Ellen Reckhow said the new arrangement is intended to make sure Durham Regional Hospital remains competitive by encouraging Duke to put its money into modernizing the facility, which was opened in 1976. It's also supposed to ensure a larger funding stream for Lincoln and EMS.
Read a longer version of this story in today's Durham News or at www.durhamnews.com.
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