Of the five Long Island College Hospital redevelopment proposals revealed last week, SUNY Downstate is seriously considering three of the bidders. But before they can sell the Cobble Hill complex, they need to settle a lawsuit brought by hospital employees that bars SUNY from offloading. Talks to settle broke down on Friday, but a settlement needs to be reached by tomorrow or the case will go to court, costing SUNY even more money. No matter what, if SUNY ever does sell, they'll still be left with a $200M+ deficit, as LICH has $500M in liabilities and is only worth about $270M. [Crain's; previously]
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