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COLORADO SPRINGS, COLO. -- The final five Memorial Health System bidders have been whittled down to one.

In an unanimous decision Tuesday Colorado Springs city council agreed to move forward with the University of Colorado Hospital's proposal for a 40-year lease of Memorial Health System.

"Over the past two years we've kinda been up, down and around on what the best option is, but for the first time it feels like we have wide spread community support," Jan Martin, Colorado Springs City Councilmember, said.

The UCH proposal would include $74 million up front and $5.6 million a year for 40 years, plus, a $3 million a year commitment towards making a branch medial campus at the University of Colorado at Colorado Springs and the possibility of a partnership with UCH and Poudre Valley Health System.

According to city council members, what made the bid so attractive was the wide variety of options for the community and the chance to have an extended connection with the University of Colorado.

But the one option that wasn't possible for Councilmember Jan Martin was the one submitted by Memorial Hospital.

"Small, stand-alone hospitals are having a hard and difficult time surviving in this healthcare world we're living in. It's important for all of these to become part of a larger system," Martin said.

While city council's vote moves the city of Colorado Springs one step closer to finalizing the decision there's still some work to be done.

"There's going to be a need for us to continue to educate as to what the full components of the lease, the pros, and how this is going to be implemented," Merv Bennett, Colorado Springs City Councilmember, said.

The next step is to negotiate the final lease agreement and submit it to the voters for approval

As of now, that is expected to happen in June.