Close Menu
Fund Focus News
    Facebook X (Twitter) Instagram
    Trending
    • Mutual funds add 30.14 lakh folios in September to touch 25.19 Crore
    • After Kotak and UTI, SBI Mutual Fund halts silver ETF FoF subscriptions
    • Mutual funds vs ETFs: What’s the difference and which one should you pick?
    • Winning move for investment into equity MF: Go for funds with lower probability of loss if you are a conservative investor
    • Why are Silver ETFs trading at a steep premium over international prices? – Money News
    • Gold and Silver ETFs drive passive flows in September 2025
    • The politics premium is punishing bonds from Paris to Tokyo
    • Malaysia concludes Expo 2025 Osaka with RM24.45b in potential trade and investments, says Miti sec-gen
    Facebook X (Twitter) Instagram
    Fund Focus News
    • Home
    • Bonds
    • ETFs
    • Funds
    • Investments
    • Mutual Funds
    • Property Investments
    • SIP
    Fund Focus News
    Home»Bonds»Beach cities voters will decide on $30 million bond measure for new health district buildings – Daily Breeze
    Bonds

    Beach cities voters will decide on $30 million bond measure for new health district buildings – Daily Breeze

    July 27, 2024


    Rendering of the upcoming building for the allcove Beach Cities youth mental health center. The Beach Cities Health District’s board of directors voted unanimously at its July 24, 2024 meeting to place a $30 million bond measure on the Nov. 5 general election ballot that would pay for a standalone building for the allcove Beach Cities youth mental health center, and outdoor open community space. (Rendering courtesy BCHD)

    The Beach Cities Health District will ask voters in three coastal cities in the November General Election to pay for its new youth mental health center and an open wellness space for the entire community.

    BCHD’s board of directors voted unanimously at its meeting this week to put a $30 million bond measure on the November general election ballot that would pay for the agency’s planned building to house allcove Beach Cities, a mental health center for youth ages 12 to 25, and two acres of public, outdoor green space nearby.

    The Health and Wellness Bond, if approved by voters, would collect a combined $1.7 million annually in property taxes from folks in Manhattan Beach, Hermosa Beach and Redondo Beach for 30 years.

    The bond would levy a tax of $3 per $100,000 assessed property value, money that would go toward BCHD to repay the bond. If an owner’s property is worth $1 million, for example, they’d pay $30 a year.

    Allcove Beach Cities currently operates on the fourth floor of BCHD’s main campus, 514 Prospect Ave., in Redondo Beach. But officials at the physical and mental health agency want the youth gathering space to have its own standalone, 9,000 square-foot, two-story center, which the bond would pay for.

    The current BCHD building, which is more than 60 years old and was originally the South Bay Hospital, no longer meets seismic safety standards, BCHD CEO Tom Bakaly has said. It would ultimately be demolished to create an open green space for programs and public leisure.

    The allcove and open space project is part of phase one of the agency’s planned Healthy Living Campus. The other, bigger portion of the first phase, Bakaly has said, is a planned senior assisted living and memory care facility; that facility comprises the majority of phase one’s $225 million price tag.

    The assisted living and memory care portion, though, is still in the investigation phase because of the climate of commercial financial markets, Bakaly has said, and may not go forward.

    The only other time BCHD, which was formed in 1955, has proposed a bond measure was in 1956 to build the South Bay Hospital, Cristan Mueller, chief health operations and communications officer for the agency, said previously. The $1.5 million bond at that time covered around half of the total $3.5 million project, she added; state and federal funding covered the rest.

    The $30 million bond would be spent on the following estimated costs, per Bakaly’s presentation to the board this week:

    • $8 million to tear down the current building.
    • $7 million to develop the open space that’d replace it.
    • $9 million for allcove; and
    • $6 million for planning, parking, grading and other construction.

    The potential bond money would also cover solar electricity and larger meeting spaces at allcove, Bakaly has said.

    There would also be a financial oversight committee for the bond.

    BCHD has already received nearly $7 million in state and federal grants to build the new allcove center, Bakaly has said.  The bond funding, he added, would allow the agency to build upon that base modular structure, connect the site to the main campus and develop the open outdoor space.

    Construction on allcove’s permanent home is hoped to begin in the fall, Bakaly has said, with a target completion date late 2025.

    Demolition of the current main campus building would likely start in late 2026. After that 18-month tear down process, he added, the open space would be developed, for a total timeline of up to five years.

    Although the tax would only affect those in the three beach cities, allcove is open to youth from all over the South Bay.

    BCHD wants to make allcove bigger and more impactful, Bakaly has said, because the agency has seen a higher intensity and urgency of care that community members need.

    “We’re doing more suicide risk assessments than anticipated, more safety plans and (seeing) more early psychosis than anticipated,” Bakaly has said. “We want to serve people better and meet the needs.”

    The entire Heathy Living Campus, though, is a step-by-step approach, Bakaly said. The agency will start looking at pursuing the second and final phase — which would include a pool, parking structure and community wellness pavilion for $325 million — once the first phase has been squared away, Bakaly said.

    If the assisted living and memory care portion of phase one doesn’t happen, though, then BCHD probably wouldn’t pursue phase two either, Bakaly said. Still, the old building will come down whether or not the bond measure passes, he added.

    Phase one of the campus, however, could be affected by a decision Redondo Beach might soon make about how much ground space can be built on in the city. The city’s planning commission on Aug. 1 will consider reducing the floor area ratio for development, or how much can be built on public property.

    That could severely impact plans for both allcove and phase two, said Bakaly in a recent interview.

    “Phase I would not be allowed,” Bakaly said, “as it would be over the square footage. And then, phase II, that would not be allowed.”

    But, said Bakaly, he’s not sure about how the city putting a cap on square footage for public institutional use would work or even if it’s legal given BCHD is already governed by its conditional use permit.

    That potential change to the Redondo Beach General Plan, an official policy that guides development in the city, if approved by the planning commission, would then have to be OK’d by the City Council to go into effect.

    Lisa Jacobs contributed to this report 






    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email

    Related Posts

    The politics premium is punishing bonds from Paris to Tokyo

    October 12, 2025

    Indonesian Government Issues USD1.85 Billion and EUR600 Million in Global Bonds

    October 11, 2025

    Sovereign Bonds: Planting for Growth, Reaping Stability

    October 11, 2025
    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

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

    February 12, 2024

    Pope Leo issues Motu Proprio concerning Holy See investments

    October 7, 2025

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

    November 19, 2023
    Don't Miss
    Mutual Funds

    Mutual funds add 30.14 lakh folios in September to touch 25.19 Crore

    October 13, 2025

    MUTUAL FUNDS ADD 30.14 LAKH FOLIOS IN SEPTEMBER 2025 For the month of September 2025,…

    After Kotak and UTI, SBI Mutual Fund halts silver ETF FoF subscriptions

    October 13, 2025

    Mutual funds vs ETFs: What’s the difference and which one should you pick?

    October 13, 2025

    Winning move for investment into equity MF: Go for funds with lower probability of loss if you are a conservative investor

    October 13, 2025
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    EDITOR'S PICK

    AMP Future Icons 2024: Marshall Moon, Meridian Investments

    July 17, 2024

    Small-Cap ETFs Just Became The Hot New Trade—Thanks To Powell – iShares Core S&P Small-Cap ETF (ARCA:IJR), Avantis U.S. Small Cap Value ETF (ARCA:AVUV)

    September 3, 2025

    What Is Factor Investing? Overview, Smart Beta, & ETFs

    October 14, 2024
    Our Picks

    Mutual funds add 30.14 lakh folios in September to touch 25.19 Crore

    October 13, 2025

    After Kotak and UTI, SBI Mutual Fund halts silver ETF FoF subscriptions

    October 13, 2025

    Mutual funds vs ETFs: What’s the difference and which one should you pick?

    October 13, 2025
    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
    © 2025 Fund Focus News
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions

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