VALPARAISO | Documents detailing the proposed sale of Porter hospital now are public.

Porter officials Friday released the proposed purchase agreement with Community Health Systems, Inc., a change from an earlier draft designating Triad Hospitals, Inc., as the buyer.

The public can view two versions of the proposed agreement at the county commissioners office.

Aside from the name of the buyer, little has changed from the previous draft obtained by and reported on by The Times.

"The decision was made that this transaction would be directly between Porter and Community," Porter hospital spokeswoman Deb Butterfield said of the switch.

Triad is in the midst of its own multibillion-dollar buyout by Community, which is expected to be finalized between June and August, Butterfield said.

Officials released two versions of the purchase agreement, one which stipulates the creation of a private, yet-to-be-formed foundation to receive the estimated $80 million to $100 million sale proceeds.

"The reason that the foundation is included in one version is that it would need to be a party to the agreement," Butterfield said.

Final details regarding the proposed foundation would be included in a separate document, she added.

The agreement calls for Community to pay the $80 million purchase price -- as well as other possible closing costs -- and to spend at least another $210 million to build a replacement hospital within four years of the closing date.

The agreement requires Community to choose and acquire land for the construction within 18 months of the closing date. The hospital still will provide ambulance services under the agreement.

The other version of the agreement, without a foundation, deems the county as the seller receiving the proceeds.

It also allows the county to transfer some or all of the proceeds to another entity which would assume all or part of any liabilities.

Hospital officials announced two dates for public hearings on the details of the proposed agreements, and will hold a public hearing on April 24 regarding the sale.

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The county commissioners, County Council and hospital board of trustees will hold a public hearing on the sale April 24, and could vote on it then. If that happens, the hospital ownership could transfer by the May 1 goal, Porter hospital spokeswoman Deb Butterfield said.

Public meetings on the proposed agreement:

6:30 p.m., Tuesday,

Duneland Falls Banquet Center

1100 N. Max Mochal Highway (Ind. 149), Portage

6:30 p.m., Wednesday

Porter County Expo Center

215 East Division Road, Valparaiso

Sale hearing -- 6 p.m., April 24

Memorial Opera House

104 E. Indiana Ave., Valparaiso