Commissioner Bill McCarrier

Butler County’s final sale price for the Sunnyview Nursing and Rehabilitation Center is $20.4 million.

The Butler County commissioners on Wednesday ratified paying the New Jersey company Investment 360 $48,943, the net difference of credits owed to both parties.

Commissioner Bill McCarrier, board chairman, said in an interview the terms of the sale worked out to the county’s benefit.

“I thought it was a very good deal for the county,” McCarrier said.

The county owed the company a $385,782 reimbursement for accounts receivable, which were uncollected bills for resident care.

Of the full sale price, $2.4 million was estimated for accounts receivable.

After the sales closing, Investment 360 was owed 25 cents for every dollar collected.

County Commissioner Dale Pinkerton said in an interview most businesses would have wanted significantly more than 25 cents.

The county did not receive money for bills more than 150 days past the billing date.

But partially offsetting the accounts receivable was $323,700 credited to the county for Sunnyview workers who took paid time off before the sale was finalized last spring.

Another $13,069 was credited to the county for paying an insurance premium.

Pinkerton said the final tally of less than $49,000 wasn’t large enough to significantly affect the sale price for the nursing home.

However, the county only nets $18.7 million due to real estate transaction costs, including $510,000 in brokerage fees and a $150,000 state tax.

McCarrier said this payment represents the end of a lengthy process to sell Sunnyview.

“It takes a long time to work out all the details,” he said.

Pinkerton stands by the decision to privatize Sunnyview.

“It definitely was the right decision to sell,” he said.