Campaigns for Cottage Gaining Momentum

March 2006

The cost to rebuild SBCH is expected to be $550 million. Retrofitting and expanding SYVCH will cost $10 million. The GVCH project will approach $80 million. And while the state requires all hospitals to rebuild to meet new seismic standards, there is no public money for these costly projects. CHS must find the money or close the doors.

In addition to using CHS assets and operating cash, borrowing money, and tapping into the assets of the hospitals’ foundations, CHS has launched a capital campaign to raise $100 million for the new SBCH. The SYVH Foundation has committed to raising $5 million for the SYVCH project, with an additional $5 million commitment from CHS. The campaign for GVCH is in the planning stages.

Santa Barbara is an extraordinarily generous community, but this effort will be one of the largest fundraising campaigns in its history. With the aid of many community leaders, more than $40 million has been pledged to the SBCH project. To date, 16 individuals, families, and foundations have led the way with gifts of $1 million or more. Cottage is honoring these donors by linking their names to areas throughout the new hospital. A few examples:
A patient pavilion will be named for the late Lord Paul Ridley-Tree and his wife Leslie in recognition of their $10 million lead gift. The newborn nursery will be named for Fred and Joyce Lukas. An outdoor dining area will bear the name of Jerry and Jackie Inskeep. And the Board Meeting Room will be named for Michael Towbes, former SBCH Board Chair and a leader of the Capital Campaign.

To secure the future of health care in our community, these and many other generous benefactors are making an investment not only in the buildings, but also in the employees, physicians, and volunteers who are Cottage’s most important assets.