The potential sale of the Algoma Long Term Care Unit to a private party was approved by the Algoma City Council Tuesday night. Two offers to purchase the city-owned property and building were considered in closed session. City Administrator Jared Heyn said after deliberating the offers by Cadenza and another by a non-profit that came forward later in the process, the council chose the Cadenza offer by a 6-1 vote with one abstention.
Heyn noted that the process would take about 50 days to close the sale between the City of Algoma and Cadenza. The owner of Cadenza is forming a new entity to operate the Algoma facility and inject more available capital into the Algoma Long Term Care Unit in the future. The City of Algoma decided last fall to look into selling the facility that was projected to operate at a loss that could potentially force the facility's closing. A report by the Algoma Finance and Personnel Committee last August expressed concerns over the city's viability to operate the facility over the long haul.