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Taxpayers could spend more on hospitals

3 years 3 months 3 weeks ago June 05, 2013 Jun 5, 2013 Wednesday, June 05 2013 June 05, 2013 11:00 AM in News
Source: Associated Press

SHREVEPORT - Taxpayers could end up spending three times more to support a foundation that's taking over LSU public hospitals in Shreveport and Monroe.

The Times reports Biomedical Research Foundation could earn about $8.6 million a year, up from $2.9 million, if LSU System supervisors approve a new contract to lease the foundation's Biomedical Research Institute building in Shreveport.

LSU supervisors will vote on the proposed contract Friday. Instead of a 15-year term as in previous leases, the proposal calls for a 30-year lease. The foundation would receive over $258 million over the 30-year term.

Danny Mahaffey, director of facility planning for the LSU System, said the proposed lease is based on fair market rate to be verified by an independent appraiser.

IMAGE: Billy Hathorn / en.wikipedia

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