UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT PURSUANT

TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): ~~July~~December 122, 2010

CORECARE SYSTEMS, INC.

(Exact Name of Registrant as Specified in Its Charter)

Delaware	000-24807	22-2840367
(State or Other Jurisdiction	(Commission	(IRS Employer
of Incorporation)	File Number)	Identification Number)
111 N. 49TH ST., Philadelphia, PA		19139
(Address of Principal Executive Offices)		(Zip Code)

111 N. 49TH ST., Philadelphia, PA	19139
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code: (215) 471-2358

N/A

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 28.01 : ~~COMPLETION~~ Other ~~OF ACQUISITION OR DISPOSITION OF ASSETS:~~Events

~~Sale~~Kirkbride ofRealty 4Corporation, ~~Acres~~a ofwholly ~~Land;~~owned ~~Closure~~subsidiary, of ~~Adolescent~~CoreCare ~~Residential~~Systems, ~~Treatment~~Inc. ~~Program;~~received ~~License~~notice ~~Changes~~that –its ~~Kirkbride~~first ~~Chemical~~mortgage ~~Dependency~~holder ~~Program~~had assigned its mortgage. On December 22, 2010, Kennedy Funding, Inc. and Brookline Financing LLC notified the Company that effective January 1, 2011 its mortgage had been assigned to an affiliate of BNP Paribas.

On ~~July~~September 121, ~~2010~~2007 ~~Kirkbride~~Kennedy ~~Realty~~Funding ~~Corporation~~Inc ~~(KRC)~~provided ~~sold 4 acres of land (the Market Street Parcel) to Children’s Hospital of Philadelphia (CHOP) for~~ $215,~~300~~100,000~~. This~~ ~~transaction~~in ~~required~~financing ~~the~~bearing ~~approval~~interest ofat ~~the~~12% ~~first~~in ~~mortgage~~year ~~holder,~~one ~~Kennedy~~and ~~Funding,~~18% ~~Inc.,~~in ~~and~~both ~~certain~~years ~~subordinated~~two ~~lien~~and ~~holders~~three ~~such~~to asKirkbride ~~the~~Realty ~~City~~Corporation ofsecured ~~Philadelphia~~by ~~and~~a ~~the~~first ~~Unsecured~~priority ~~Creditors~~mortgage ~~Trust~~lien of on the Kirkbride Center ~~Chapter 11 Reorganization Plan~~Campus. ~~Proceeds~~The ~~were distributed primarily to the first~~ mortgage ~~holder~~loan ~~according~~was scheduled to ~~terms~~mature ~~previously negotiated~~ in ~~the~~September ~~mortgage documents~~2010. ~~Kennedy~~After ~~Funding,~~the ~~Inc~~loan’s ~~.holds~~scheduled amaturity ~~$14,600,000~~the ~~first~~Company ~~mortgage~~has onbeen ~~the~~paying ~~entire~~interest 20at ~~acre~~7% ~~Campus~~per ~~expiring~~annum. ~~October~~Kirkbride 1Center, ~~2010. Kennedy~~a ~~received~~behavioral $1health care provider,~~725,000~~ ~~from~~and ~~the~~major ~~proceeds~~tenant of the ~~land sale. In January 2010 the~~ Campus, ~~was~~provided ~~rezoned~~a ~~for~~guaranty. Other ~~commercial~~guarantors ~~activity~~included on the 4parent ~~acres~~company, ~~Market~~CoreCare ~~Street~~Systems, ~~Parcel~~Inc. ~~while~~and ~~the~~Thomas ~~remaining 16 acres received institutional zoning status~~T. In ~~February~~Fleming of(deceased) ~~2010~~who ~~the 4 acres on Market Street~~ was ~~formally~~Chairman ~~subdivided~~and ~~from~~CEO ~~the~~at ~~rest of~~ the ~~Campus to enable it to be transferred to CHOP~~time.

OnManagement ~~June~~is ~~17,~~optimistic ~~2010~~that ~~the~~its ~~Kirkbride~~refinancing ~~Center~~efforts ~~and~~will ~~Kirkbride~~be ~~Realty~~successful ~~Corporation~~given ~~reached~~the aimproving ~~settlement~~conditions ~~agreement~~in ~~with~~ the ~~City~~capital ofmarkets ~~Philadelphia~~and onthe ~~its~~market ~~outstanding~~absorption ~~tax liabilities. These liabilities~~ of ~~over $10 Million accumulated from~~ the ~~Kirkbride Center~~Hospital’s ~~2002~~recent ~~Bankruptcy~~bed ~~Plan~~expansion. ~~Under~~The ~~this~~Corporate ~~agreement~~Office ~~the~~of ~~City~~CoreCare ~~will extinguish all liabilities if approximately $3~~Systems,~~000,000~~ inInc ~~principal plus 5.5% interest~~ is ~~paid~~located byat ~~May 31, 2011. The City also agreed to release~~ the ~~Officers~~Kirkbride ~~from~~Center ~~their~~Campus, ~~guarantees~~111 ~~under~~North ~~the~~49th ~~Bankruptcy Plan~~Street, ~~upon the payment of $100~~Philadelphia,~~000~~ ~~within 30 days of the land sale~~Pa. ~~This release requires deferral of certain distributions to the principals until the City has been fully repaid~~19139. The ~~Company~~Corporate ~~must~~Office ~~remain~~can ~~current~~be onreached ~~its~~at ~~City filings and tax payments~~215-471-2358. ~~The City received $301,017 from the proceeds of the land sale.~~

OnITEM ~~June 23, 2010 CoreCare Systems, Inc~~9.01 FINANCIAL ~~closed~~STATEMENTS ~~the~~AND Adolescent Residential Treatment Program operated through its subsidiary Westmeade Healthcare, Inc. The closure was due to low census patterns caused by cutbacks in the institutionalization of adolescents needing treatment through managed care companies. CoreCare Systems has owned Westmeade since 1995.EXHIBITS

~~Due~~Exhibit ~~to prolonged census volatility, Kirkbride Center reduced the licensed capacity of its Chemical Dependency Program to improve operating efficiency on November 5, 2009~~99. ~~Licensed~~ Press ~~capacity~~Release ~~was~~dated ~~124~~April ~~detox and rehabilitation beds but decreased to 118 beds. Due to high census demand the program’s licensed capacity was expanded on May 21~~18, 2010 ~~to 154 detox and rehabilitation beds~~. ~~Since that time program occupancy has steadily increased.~~

The Corporate Office of CoreCare Systems, Inc is located at the Blackwell Human Services Campus, 111 North 49th Street, Philadelphia, PA 19139. The Corporate Office can be reached at 215-471-2358. Information on the Company can be accessed at its web site. www.kirkbridecenter.com

SIGNATURE

Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		CORECARE SYSTEMS, INC.
	By:	~~By:~~___________________________	~~/s/ Rose S. DiOttavio~~
		Rose S. DiOttavio,	~~Rose S. DiOttavio,~~
Date:	July 1, 2010		President & CEO
Date: December 22, 2010		President & CEO

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