Fairhope, Alabama
Updated and edited for clarity.
CHURCH STREET NURSING HOME
A rare meeting of something called the Midtown Medical Clinic Board was held recently with the sole purpose of dissolving itself ... and disbursing the remaining funds in an investment account set up almost 40 years ago (see dissolution resolution below).
According to Chairman Bob Mannich, the board was given $25K "seed money" by a federal court in the early 1980's to insure proper management of the nursing home after a lawsuit over misappropriation of medicare and medicaid funds.
The facility changed operators several times over the years and original issues were resolved so the money "just sat there" collecting interest, totaling $117K today which will be given to the city of Fairhope.
About $2,500 of that will go to pay legal bills and other account management expenses, Mannich said.
FORMED IN 1979 FOR THE PURCHASE
Public records show the board was formed in 1979 to purchase, improve, and lease out the facility to an operator (see articles of incorporation below).
The property was sold to Fairhope Nursing Llc. in late 2009, according to records; all municipal bonds issued have been paid off.
Mannich: "The board's responsibilities have been fulfilled."
(Current operation of the nursing home will not be affected.)
Besides Mannich, Bob Gentle and Ben Smith are members of the board, all were recently appointed by the city council.
Mannich's father Arthur was the original chairman of this board; Rudy Wiggins and D. W. Gooden were also original members.
(Such boards are sometimes formed to issue municipal bonds for financing; there are two other similar medical clinic boards in the city, the east and north.)
Updated and edited for clarity.
 |
| Mannich at end of table |
CHURCH STREET NURSING HOME
A rare meeting of something called the Midtown Medical Clinic Board was held recently with the sole purpose of dissolving itself ... and disbursing the remaining funds in an investment account set up almost 40 years ago (see dissolution resolution below).
 |
| 108 S. Church St. |
The facility changed operators several times over the years and original issues were resolved so the money "just sat there" collecting interest, totaling $117K today which will be given to the city of Fairhope.
About $2,500 of that will go to pay legal bills and other account management expenses, Mannich said.
FORMED IN 1979 FOR THE PURCHASE
Public records show the board was formed in 1979 to purchase, improve, and lease out the facility to an operator (see articles of incorporation below).
The property was sold to Fairhope Nursing Llc. in late 2009, according to records; all municipal bonds issued have been paid off.
Mannich: "The board's responsibilities have been fulfilled."
(Current operation of the nursing home will not be affected.)
Besides Mannich, Bob Gentle and Ben Smith are members of the board, all were recently appointed by the city council.
Mannich's father Arthur was the original chairman of this board; Rudy Wiggins and D. W. Gooden were also original members.
(Such boards are sometimes formed to issue municipal bonds for financing; there are two other similar medical clinic boards in the city, the east and north.)
 |
| 1979 articles of incorporation |
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| 2018 dissolution resolution |
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