Medical School Formation
In a complicated and innovative transaction, an interdisciplinary team played an essential role in creating a new medical school in Michigan. The project involved forming a three-member not for profit corporation between a university, two hospitals, and a privately funded anonymous donation of $100M (the largest such cash gift in the history of Michigan). We were responsible for orchestrating, drafting, and negotiating charter documents, obtaining trustee approval, and obtaining 501(c)(3) approval from the IRS. The operation involved obtaining state approval for an education corporation with separate degree granting authority. Getting the medical school accredited required reviewing policies and procedures for students, faculty and staff and negotiating with the accreditation authority for separate accreditation status. Additionally, the team prepared a gift agreement to physically house the medical school in the former facility of a national pharmaceutical company. The team also handled affiliation agreements with the two hospitals and agreements involving a $70M facility renovation. Phase I and II environmental review, BEA and confirmation involving complications regarding DEQ deed restrictions, drafting easements, utility sharing agreements, and zoning issues were involved.
