CCA Expands Existing Intergovernmental Service Agreement to Manage the South Texas Family Residential Center in Dilley, Texas
As part of the agreement, CCA will be responsible for providing residential services in an open and safe environment which will offer residents indoor and outdoor recreational activities, life skills, study period, counseling, group interaction, and access to religious and legal services. In addition, CCA will provide educational programs and food services through third parties. Medical services will be provided to residents by a third party provider that will be contracted separately by ICE.
The 50-acre site and family residential center, to be constructed thereon over the next seven months, will be leased from
We continue to finalize certain aspects of the transaction, but currently expect the modified agreement to have a negative financial impact on our previously issued per share guidance for 2014 of approximately
CCA, a publicly traded real estate investment trust (REIT), is the nation's largest owner of partnership correction and detention facilities and one of the largest prison operators in
This press release contains statements as to our beliefs and expectations of the outcome of future events that are forward-looking statements as defined within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made. These include, but are not limited to, the risks and uncertainties associated with: (i) ICE's discretion as to the length of need for this contract which is addressing a currently acute immigration issue; (ii) our ability to successfully manage the project which is different from our typical facility; (iii) general economic and market conditions, including the impact governmental budgets can have on our per diem rates, occupancy, and overall utilization; (iv) fluctuations in our operating results because of, among other things, changes in occupancy levels, competition, increases in cost of operations, fluctuations in interest rates and risks of operations; (v) our ability to obtain and maintain correctional facility management contracts, including, but not limited to, sufficient governmental appropriations, contract compliance and as a result of inmate disturbances; (vi) changes in the privatization of the corrections and detention industry, the public acceptance of our services, the timing of the opening of and demand for new prison facilities and the commencement of new management contracts; (vii) changes in governmental policy and in legislation and regulation of the corrections and detention industry that affect our business, including but not limited to,
CCA takes no responsibility for updating the information contained in this press release following the date hereof to reflect events or circumstances occurring after the date hereof or the occurrence of unanticipated events or for any changes or modifications made to this press release.
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