With Fulton Co. in favor of Grady restructuring & Vernon Jones opposed, I assume it is fair to ask that DeKalb Co. guarantee the $100 million loan.
The head of the Grady hospital board on Saturday said she will propose a $125 million plan to stabilize the financially teetering hospital, which would include obtaining $100 million in loans to stave off closing the facility.
Pam Stephenson said she will submit the plan to the 10-member Grady board at its meeting Tuesday, and that she expects the board will approve it.
The key part of the plan is obtaining a $100 million line of credit. Stephenson said that within the last 10 days, two lending institutions have said they would lend the hospital the money — with a condition. Those institutions want either Fulton or DeKalb to stand behind those loans, she said.