County ends mental health agency lease
The asset-holding company for Colorado West Regional Mental Health Center ended a lease Monday with Mesa County that provided the county with assurances and collateral from the company so the county could help Colorado West secure grant funding.
Colorado West entered a ground lease and sublease agreement with Mesa County in March 2011 on its Building D at 515 28 3/4 Road with the understanding that the agreement could end as soon as Colorado West had at least 45 days worth of operating expenses in its bank account for at least two years. The county helped secure a Department of Local Affairs grant for Colorado West and, as of this March, the organization has maintained enough cash on hand for 47.8 to 90.6 days of operations since March 2011 to end the lease and sublease agreement on its building.
The Mesa County Commission approved termination of the agreement Monday morning at a commission meeting. Colorado West Chief Executive Officer Sharon Raggio told commissioners she appreciates the county’s willingness to help the mental health care facility procure funding.
“It’s a real private/public partnership to make sure mental health services are available for our vulnerable populations,” Raggio said.
“I’m glad we reached the day where we could see Colorado West on its feet,” responded Commissioner Steve Acquafresca.