The current market value of the Manor is unknown, but a professional appraiser is expected to be lined up as part of the business of the LDC.
Lindberg estimated that, all told, the county has spent $50 million on the Manor, including the $28 million to build it. The county still must pay off a $17 million bond and $7 million in interest charges, he said.
“We have to do something because we can’t keep subsidizing it,” he said. “It’s either take a loss now or lose more later.”
Also named to the LDC board were Kim Muller, a former mayor of Oneonta; Oneonta businessman Rick Eastman; retired commercial banker William Dornburgh of Cooperstown; Carol Kiehn Kirkey of Oneonta, an advocate for Manor patients; and Dr. Donald Pollock, former medical director of the Manor’s forerunner, the Otsego Meadows.
Stuligross said Kirkey has also volunteered to serve as the directors’ liaison to Manor patients, and will regularly brief them on the LDC’s activities.