Close Menu
Fund Focus News
    Facebook X (Twitter) Instagram
    Trending
    • New mutual fund brokerage rules from April 1: How GST changes will affect distributors
    • Life Cycle Mutual Funds explained: SEBI’s new category with 5–30 year tenure
    • Volatile prices, high inflows take toll on gold, silver ETFs return
    • Sebi revamps mutual fund categories: Experts explain changes for investors | Personal Finance
    • Premium bonds: odds of a win to get worse from April | Savings
    • Sebi MF rules: Domestic spot pricing of metals to improve NAV accuracy in gold and silver ETFs, say experts
    • Use lifecycle funds separately for planning bigger expenses – Mutual Funds News
    • Balanced funds edge out others in Nigeria’s 2026 mutual fund leaderboard
    Facebook X (Twitter) Instagram
    Fund Focus News
    • Home
    • Bonds
    • ETFs
    • Funds
    • Investments
    • Mutual Funds
    • Property Investments
    • SIP
    Fund Focus News
    Home»Bonds»BCHD board to decide this week on demolition bond
    Bonds

    BCHD board to decide this week on demolition bond

    July 19, 2024


    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 Telegram Email

    Related Posts

    Premium bonds: odds of a win to get worse from April | Savings

    February 27, 2026

    SAR able to service debts from more bonds: FS

    February 26, 2026

    Martin Lewis’ MSE explains if Premium Bonds are still ‘worth it’ after rate cut

    February 26, 2026
    Leave A Reply Cancel Reply

    Top Posts

    The Shifting Landscape of Art Investment and the Rise of Accessibility: The London Art Exchange

    September 11, 2023

    Volatile prices, high inflows take toll on gold, silver ETFs return

    February 28, 2026

    Charlie Cobham: The Art Broker Extraordinaire Maximizing Returns for High Net Worth Clients

    February 12, 2024

    The Unyielding Resilience of the Art Market: A Historical and Contemporary Perspective

    November 19, 2023
    Don't Miss
    Mutual Funds

    New mutual fund brokerage rules from April 1: How GST changes will affect distributors

    February 28, 2026

    Mutual fund distributors will see a structural shift in brokerage payouts from April 1, after…

    Life Cycle Mutual Funds explained: SEBI’s new category with 5–30 year tenure

    February 28, 2026

    Volatile prices, high inflows take toll on gold, silver ETFs return

    February 28, 2026

    Sebi revamps mutual fund categories: Experts explain changes for investors | Personal Finance

    February 28, 2026
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    EDITOR'S PICK

    How Trump’s Potential Re-election Could Shake Up Green Bonds

    July 22, 2024

    Cities issue bonds at record pace

    November 11, 2025

    Best banking & PSU mutual funds to invest in August 2024

    August 22, 2024
    Our Picks

    New mutual fund brokerage rules from April 1: How GST changes will affect distributors

    February 28, 2026

    Life Cycle Mutual Funds explained: SEBI’s new category with 5–30 year tenure

    February 28, 2026

    Volatile prices, high inflows take toll on gold, silver ETFs return

    February 28, 2026
    Most Popular

    🔥Juve target Chukwuemeka, Inter raise funds, Elmas bid in play 🤑

    August 20, 2025

    💵 Libra responds after Flamengo takes legal action and ‘freezes’ funds

    September 26, 2025

    ₹10,000 monthly SIP in this mutual fund has grown to ₹1.52 crore in 22 years

    September 17, 2025
    © 2026 Fund Focus News
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions

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