Title:
Title
First Amendment to Trust and Funding Agreement with Sierra Health Foundation and Sierra Health Foundation: Center for Health Management for the Oak Park Project. (I02180300)
End
FileID
File ID: 2018-01643
Location
Location: Oak Park Redevelopment Project Area, District 5
Recommendation:
Recommendation
Pass a Motion authorizing the City Manager or City Manager's designee to enter into the First Amendment to the Trust and Funding Agreement with Sierra Health Foundation and Sierra Health Foundation: Center for Health Management for the Oak Park Project (I02180300).
Contact: Leslie Fritzsche, (916) 808-5450, Economic Investment Manager, Office of the City Manager
Body
Presenter: None
Attachments:
1-Description/Analysis
2-First Amendment to the Trust and Funding Agreement
3-Background on Sierra Health Foundation and Sierra Health Foundation: Center for Health Program Management
Description/Analysis
Issue Detail: On February 27, 2018, City Council approved Resolution # 2018-069, which authorized the City Manager to execute a Trust and Funding Agreement with the Sierra Health Foundation and Sierra Health Foundation: Center for Health Program Management (collectively referred to as "Sierra Health") for development of a new workforce development and employment initiative for the medical and health-related fields called the Oak Park Project (IO2180300). Initially, the City's investment of $4,967,500 from former Oak Park redevelopment bond funds into the Oak Park Project was anticipated to acquire two buildings in Oak Park, 3301-3307 Broadway and 2330 Alhambra Boulevard. The first building was expected to house the initiative, while the second building was identified to be used to relocate the Heritage Charter School, which is currently housed in the Broadway building. This transformational initiative was envisioned to leverage the multi-billion-dollar health care assets proximate to the Oak Park neighborhood to provide a new cent...
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