Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Investments»BCHD board to decide this week on demolition bond
    Investments

    BCHD board to decide this week on demolition bond

    July 19, 20243 Mins Read


    by Garth Meyer

    The Beach Cities Health District board will vote July 24 on whether to seek voter approval for a $30 million bond to tear down the old South Bay Hospital, and fund other items on the District’s Redondo Beach campus.

    The “BCHD Community Health & Wellness Measure” would pay for destruction and removal of the 1960 hospital building, replace it with two acres of grassy open space and 100 parking spots, and complete the coming alcove Beach Cities building with certain environmental and sustainability “best practices.”

    BCHD states the reason to tear down the old hospital – which closed in 1998 – is seismic, pointing to a structural engineering analysis/risk assessment, which concluded the building could operate within “acceptable risk standards” until late 2026. 

    The District has committed to the tear-down in two years whether a bond funds it or not. 

    “We haven’t made a decision yet on a bond,” said Martha Koo, BCHD board president. “Beach Cities Health District has looked at a lot of different ways to support a loss of revenue, since 2017. I think a bond measure is really worth considering.”

    The planned open space would be used for the health district’s outdoor health and wellness programs. 

    Most of the allcove Beach Cities (“allcove” is not capitalized) building for youth physical and mental health is funded by $7 million in state and federal grants.

    Dan Smith, BCHD communications director, said discussion at the June 26 board meeting indicated the group leans toward putting a bond on the November ballot. 

    Koo served on the BCHD board’s property committee in 2021-22 and was in on various seismic meetings.

    She named two issues with the hospital building, one being safety.

    “Also, the ongoing cost of maintenance. This ever-increasing cost to maintain the building, plus lack of interest in having office space that is really old and outdated,” Koo said. “The maintenance costs more than any revenue stream we can get in for it.”

    Terms of a proposed bond would be $3 per $100,000 in assessed property value – not market value. For a $1 million house in assessed value, the bond would add $30 per year to its owners’ property tax for 30 years.

    The Beach Cities Health District serves Redondo Beach, Hermosa Beach and Manhattan Beach. Residents of each city are eligible to vote.

    If the old hospital is torn down, current tenants Silverado Memory Care, UCLA Health and the BCHD Center for Health and Fitness would need to relocate. allcove, which operates today in the old hospital’s former cancer care space, will move to its new building next year, slated to start pre-construction in October. 

    The proposed bond’s $30 million total would break down to $8 million for the old hospital teardown, $7 million to develop the green space, $3 million for allcove building expansion, solar panels and other environmentally-friendly features, $7 million for the parking lot and allcove site link walkway, and $5 million for planning, architecture and engineering. ER





    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Bonds End Up Little-Changed. Other Markets May Have Helped

    Investments

    These bonds trounced cash in 2025, and they could still offer solid returns for investors

    Investments

    Why investors still trust US govt bonds – for now

    Investments

    A Tax-Smart Plan for In-Retirement Withdrawals in 3 Steps

    Investments

    How to make your retirement income stretch further

    Investments

    6 Retirement Must-Knows for 2026

    Investments
    Leave A Reply Cancel Reply

    Top Picks
    Commodities

    TSX futures gain on commodity boost, US CPI on tap

    Stock Market

    SC utilities’ duties, Statehouse votes, be informed voters | Letters to the Editor

    Precious Metal

    Copper 360 reboots Rietberg mine in South Africa

    Editors Picks

    Lewis Hamilton refuses to shut down retirement rumours in latest statement

    December 7, 2025

    Andy Bailey’s LeBron James Retirement Call Sparks NBA Longevity Debate

    January 7, 2026

    Nigeria and US Partner to Combat Cybercrime

    October 23, 2024

    Budget: A mixed bag but residential property market should rest easy

    November 27, 2025
    What's Hot

    Donald Trump’s US Strategic Crypto Reserve: What it is, how it helps, and its impact on cryptocurrency prices

    March 2, 2025

    Ebonie Jones: Portsmouth boxer on why she called time on career

    November 19, 2025

    Fitch restores Delta’s investment-grade rating

    July 16, 2024
    Our Picks

    How Utilities Can Better Manage and Maintain the Quality of Their Data Assets

    February 2, 2020

    Sur l’Everest, des drones géants mobilisés pour ramasser les ordures

    July 7, 2025

    PIMCO – Charting the year ahead: Investment ideas for 2026

    December 4, 2025
    Weekly Top

    Agricultural Communicators Network opens 2026 scholarships

    January 29, 2026

    Copper tops $14,000 mark as speculation, mine disruptions fuel metals surge

    January 29, 2026

    These bonds trounced cash in 2025, and they could still offer solid returns for investors

    January 29, 2026
    Editor's Pick

    The paint colour that could lower the price of your property, revealed by an interiors expert – and the shade you should paint your walls instead

    October 8, 2025

    Onshore bonds emerging as tax-efficient alternative to GIAs

    October 16, 2025

    ‘Delicious’ supplement that boosts ‘energy without having trouble sleeping’

    September 18, 2025
    © 2026 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.