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BCHD Leases 3 Acres to a Developer for 50+ Years for $400K/year

Updated: Jul 24, 2022

BCHD might receive $1.5M in rent from the private Developer/Owner/Operator that it leases to, but BCHD has to pay the Developer about $1M in rent to use our public land. THAT'S A BAD DEAL!


BCHD released a Cain Bros investment banker ($2M taxpayer funded contract with BCHD). It shows that BCHD will take in $1.2 to $1.5M annually from leasing 3 acres to a private Developer/Owner/Operator to build a 6-story, 300,000 sqft building.


Cain also shows that BCHD will pay $800,000 to $1,200,000 back to the Developer to rent space for PACE, "allcove", and BCHD office functions. 96% of PACE enrollees will be non-residents. 91% of the "allcove" service market are non-residents.


So NET, BCHD will only receive about $400K a year in rent after it pays the private Developer to rent back space.


That's only 20% of the Top 10 BCHD Executive payroll - so would a severance or pay reduction to EXECUTIVES at BCHD be a lot less environmental damage that 5 years of construction?


It's not a TRICK QUESTION. The answer is YES



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