Akron (Ohio) Children's Hospital will receive two properties from the city of Akron in exchange for one of their own, according to the Akron Beacon-Journal.
The Akron City Council approved a measure Monday to accept $1.8 million from Akron Children's in exchange for two properties valued at $2.9 million, while the hospital will give the city a property worth $115,000. The city is absorbing a loss of roughly $1 million in order to make the deal.
The agreement will allow Akron Children's to expand facilities and keep hundreds of jobs in downtown Akron while also encouraging the development of a business district catered specifically to children.