Broken Arrow Economic Development Authority
Meeting of: 01-02-2018
To: Mayor and City Council
From: Office of the City Attorney
Title:
title
Consideration, discussion, and possible approval of Resolution No. 1079-CORRECTED, a Resolution of the Broken Arrow Economic Development Authority approving and authorizing execution of a certain economic development agreement by and among the Broken Arrow Economic Development Authority, an Oklahoma Public Trust, the sole beneficiary of which is the City of Broken Arrow, Oklahoma, and SoundMind Behavioral Health Hospital, LLC, an Oklahoma Limited Liability Company; and other provisions relating thereto
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Background:
On December 18, 2017, Resolution 1079 was previously approved by the Authority, but revisions to the Agreement were made to capture the direction given by the Trustees. The Resolution authorizes the execution of an economic development agreement between the City and SoundMind Behavioral Health Hospital, LLC.
SoundMind Behavioral Health Hospital, LLC is an Oklahoma Limited Liability company whose founding mission is to provide accessible and affordable comprehensive inpatient psychiatric care for adults and seniors in crises. The Chief Executive Officer of SoundMind (the "CEO") is an experienced psychiatrist health care consultant with over a decade of success driving clinical and fiscal management, development, and improvement of behavioral health services and has built a solid reputation as an expert and national provider of adult/geriatric psychiatric contract management services. The CEO is in the process of recruiting a multidisciplinary team of recognized clinical and research behavioral health professionals and various administrative support staff.
Recent changes in the way behavioral health care is paid for by insurers should mark a reversal from recent years in which hospitals had no interest in providing inpatient psychiatric beds, and...
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