BENNINGTON — Southwestern Vermont Overall health Care’s acquire of the 371-acre former Southern Vermont Faculty campus has been finalized.
SVHC, the corporate mother or father of Southwestern Vermont Healthcare Center, obtained the campus and buildings for $4.65 million.
Spokesperson Ashley Jowett stated the closing happened on Wednesday as planned.
The overall health care organization experienced earlier entered the highest bid for the assets during a Dec. 11 hearing in U.S. Individual bankruptcy Court docket-Vermont Division.
“SVHC and the SVC property are linked geographically as neighbors and via our record,” mentioned Thomas Dee, president and CEO of SVHC. “We are keen to lover with the town and other people to preserve and boost the relevance and worth of this incredible community asset.”
“Bennington is extremely privileged to have SVHC obtaining the former SVC campus but this ‘closing’ is only a commencing,” claimed Donald Campbell, chair of the Bennington Decide on Board.
“For this to function, the town will need to have to support the SVHC effort and hard work at quite a few stages, both equally logistically and possibly even financially. They have taken all the threat, now we need to have to assistance them towards wonderful local community outcomes,” he reported.
“I am extremely delighted that SVC is less than liable possession after all over again,” mentioned City Manager Stuart Hurd. “It is my understanding that SVHC is wanting forward to doing work with the local community to figure out how ideal to provide the overall assets into useful and effective use. I glimpse forward to the operate ahead. This is 1 of the actually fantastic news stories of 2020.”
Although no unique designs have been mentioned publicly, SVHC officials said they will perform with town staff members to generate a long-phrase prepare for use of the land and structures.
The small private school closed in May perhaps 2019, and in August of this year the board of trustees voluntarily entered the faculty corporation into the Chapter 7 bankruptcy method, main towards liquidation of authentic estate and other assets.