News Headlines Article

Hospital, city disagree on land value
The Downey Patriot

Downey Regional Medical Center, in an effort to obtain collateral that would help it emerge from Chapter 11 bankruptcy, recently made two offers to purchase the city-owned land the hospital sits on but negotiations never progressed past initial discussions, city and hospital officials confirmed this week.

The hospital offered $1.5 million for the eight acres last fall, and a revised offer last month in which a court-appointed appraiser would determine the land’s fair market value, city attorney Yvette Abich Garcia said. Both offers were rejected.

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