Title
Memorandum of Understanding with St. George Corporation, St. George Wellness Center and Palos Community Hospital
History
The Village of Orland Park and Palos Community Hospital (and parties) have been working collaboratively throughout the last months to identify various site and business plan options that would result in the retention of the existing Palos Health and Fitness Center, while still allowing Palos to continue to move forward on their proposed expansion, improvement, and modernization of their medical facilities, located at 15300 S. West Avenue in Orland Park. These conversations also included contemplation of Palos’ Phase II plans, as well as the long term needs of the adjacent Centennial Park.
The proposed Memorandum of Understanding (MOU) lays out the common goals of both parties and provides for a 90 day “due diligence” period to finalize the deal terms and agreement. During this period, the fitness center will remain open. Staff will work with Palos to review pertinent financial information, building and capital assessments of the existing center, operations and programming, and final site plan reconfiguration. Staff will provide a report of each of these areas with the proposed development agreement. The ultimate goal is to reach a final agreement between the parties for the long term preservation of the fitness center and the ultimate build-out of Palos’ expansion plans.
Financial Impact
At this time, the financial impact is unknown. The MOU contemplates a transfer of the facility and related parking to the Village in exchange for land that will enable Palos to complete their expansion projects.
Recommended Action/Motion
I move to approve the Memorandum of Understanding between the Village of Orland Park and St. George Corporation, St. George Wellness Center and Palos Community Hospital and to authorize the Village Manager to execute the Memorandum of Understanding.