CONTRACT SIGNED FOR MANOR SALE

COOPERSTOWN

County Rep. Kay Stuligross, D-Oneonta, this afternoon signed a contract to sell Otsego Manor to Focus Ventures, a nursing home operation based in Airmont,Rockland County.

Stuligross chairs the Otsego Manor Facilities Corp., established by the county Board of Representatives last year to facilitate the sale of the public nursing home.  When Focus Ventures was identified as the potential buyer in January, the price was reported at $18.5 million.

Focus Ventures must now apply to the state Department of Health for a “certificate of need” to allow the sale to go through.  “We’re not anticipating any problems getting approval, but you never know,” said Stuligross.

It would be “normal” for the health department to take a few weeks to four months to review Focus Ventures application.  If approved, it would take another month to close on the sale.

“So we’re still saying we expect to close by the end of the year,” Stuligross said.