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Capping Off Epic Bidding War, LICH Will Entertain... More Bids!

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Here we go again. Yet another round of bidding lies ahead for embattled Long Island College Hospital, which already has under its belt quite a tumultous timeline of false starts and revised redevelopment proposals. This time, the big guys got involved, with Bill de Blasio and Andrew Cuomo brokering a deal with LICH owner SUNY that allows community groups to play a greater role in selecting a "white knight" winner to buy the ailing medical center (worth about $250M). After a year of back-and-forth on the issue, it took days of deliberation for unions, community groups, and elected officials to decide to launch a new, expedited Request for Proposals, during which interested parties have 15 days to submit their plans and deliberators just seven days to pick a buyer.

The sale will be complete by May—or that's the goal, even though it seems sticking to timelines isn't really LICH's thing. What the involvement of community groups during the selection process means is that an emphasis will be placed on keeping as many healthcare facilities as possible on the redeveloped site. That doesn't exclude the possibility of condos, rentals, commercial space, or other uses, but de Blasio has declared the settlement reached yesterday a victory for the neighbors nonetheless. A judge is expected to sign off on the whole deal Friday afternoon.
· Deal Reached on Litigation Over Long Island College Hospital [NYT]
· Mayor de Blasio, Cuomo and SUNY reach deal to keep Long Island College Hospital open [NYDN]
· Way cleared for new life for LICH [Crain's]
· SUNY agreement paves way for LICH sale [Capital NY]
· Sick settlement! State to abandon LICH by May, re-open bidding war [Brooklyn Paper]
· Settlement Reached on Long Island College Hospital's Future, Attorneys Say [DNAinfo]
· All Long Island College Hospital coverage [Curbed]