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This ever-increasing cost to maintain the building, plus lack of interest in having office space that is really old and outdated,” Koo said.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

    UFC icon Dustin Poirier confirms new career post-retirement

    Investments

    Why finding the right property manager is a must

    Investments

    Should UK-based clients still own US government bonds? 

    Investments

    Andhra Pradesh Aims For $150 Billion in Investments With Launch Of Electronics Policy 4.0

    Investments

    Tube Investments Q1 Results: Higher expenses weigh on margin despite strong revenue growth

    Investments

    Long-dated euro zone bonds sell off; Trump slaps on tariffs

    Investments
    Leave A Reply Cancel Reply

    Top Picks
    Property

    Pittsburgh hearing on property taxes puts focus on ‘broken’ system

    Commodities

    Pennsylvania Lags Many Other States in Adoption of Renewable Energy, Report Says

    Fintech

    Complii FinTech Restructures Capital for Growth

    Editors Picks

    Inside a common landlord practice

    August 21, 2024

    Africa’s best for alternative investments 2025: Stewards Investment Capital

    March 28, 2025

    La chronique de Sophie Iborra. « Je revendique une sorte de silver power » (Tatiana de Rosnay, écrivaine)

    April 19, 2025

    FinTech Studios® announced the launch of PowerIntell.AI™

    August 7, 2024
    What's Hot

    Centre taking pre-emptive steps to maintain stable food price

    January 17, 2025

    Le portefeuille industriel de Garda Property Group à Brisbane à l’abri du cyclone Alfred -Le 11 mars 2025 à 05:25

    March 10, 2025

    Advancing Agricultural Sustainability: The Role of AI in Developing a Comprehensive Soil Quality Index

    August 29, 2024
    Our Picks

    Asia-Pacific firms more vigilant about investments amid geopolitics: Deloitte survey

    July 14, 2024

    New Cryptocurrency Releases, Listings, & Presales Today – AGISTRY, CalcifyTech, Bitcoin Hyper

    June 11, 2025

    Bogus plea for bond money, friend held hostage by Mexican cartel, cryptocurrency fraud among recent scams hitting Troy residents – The Oakland Press

    June 12, 2025
    Weekly Top

    Why finding the right property manager is a must

    August 1, 2025

    The brilliant new metal bands you need to hear in August 2025

    August 1, 2025

    MTN Uganda shareholders approve Fintech separation to boost digital inclusion

    August 1, 2025
    Editor's Pick

    Stamp duty holiday end: what was it and what effect did it have?

    May 5, 2025

    Zhejiang China Commodities City Group : hausse de 13 % des bénéfices au premier trimestre, baisse de 8 % des actions

    April 7, 2025

    Book notes: Smart money: how digital currencies will win the new Cold War, by Brunello Rosa with Casey Larsen

    May 13, 2025
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

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