· Between 2005 and 2010 Gracedale has returned $2.36 million to the county in PROFIT (This includes losses in 2009 of $4.62 million and 2010 losses of $2.46 million. Over that same time period it was predicted Gracedale would lose $45.02 million.
· The PROFIT was taken by Northampton County
· The Gracedale Operational Assessment Report (Gracedale Study) was conducted by a company that buys and sells nursing homes as part of their business.
· The company that conducted the Gracedale Study also ”informally” polled members of council to ask what they wanted to do with the property.
· TL Global was selected and bid $35 million (the administration believes this number will ultimately be lower) the tax payers will have to pay:
$4 million payment to CCAP for an outstanding loan
$2.4 million in costs allocated back the county
$2 million to buyout sick and vacation time
$1 to 2 million in fees and other expenses
$300,000 in legal cost to Eckert Seamans (probably more depending on final bills for lawsuits filed)
· This leaves ONLY $24.3 million in net profit.
· The county still remains with a budget shortfall for the foreseeable future.
· Adding in the additional $2.4 million in cost ongoing from Gracedale that makes $6.4 million in deficits each year.
· This means that by 2013 or 2014 the county will be faced with the same problem and this time Gracedale will not be there to bail us out.
· The Gracedale pension has suffered losses which are not the fault of its employees. No Gracedale employees have a say or vote on the Northampton County
· Simple Management efficiencies could help make Gracedale profitable again. Small investments in advertising from savings suggested by a management consultant will lead to an increased census, the return to profitability and good paying JOBS for the residence of Northampton County
· Gracedale will not cost the taxpayers a 20% tax increase. A 20% tax increase would raise the county $16 million in revenue. Gracedale’s alleged shortfall is only $6 million. This OVER TAXES county residents by $80 million dollars over a 5 year period for no reason.
· The tax payers have recently invested millions in building upgrades and window replacement cost, which not will not be recovered if the building is sold in this depressed real estate market.
Independents Can VOTE in May for Gracedale!
Independents Can VOTE in May for Gracedale!
This is just irritating. Why do they need 16 million dollars to cover a 6 million dollar bet that really turns out to be a 2 million dollar deficit? They say that politicians need to be changed as frequent as a baby’s diaper for the same reason, they are both full of crap!
ReplyDeleteWHY do they say per Angle 20%,15%,13%, back to 20% now 15% to 20% tax rise. Why is Angle tossing figures out hopping some thing sticks .
ReplyDeleteBecause its all lies anonymous 12:27am
ReplyDeleteRev. Martinez needs to go to the police if his life was threatened. That's what the authorities are for in our society. He'll get no justice for Angle puppets like Mike Dowd.
ReplyDeleteDistortion of the facts as they relate to Gracdale is Stoffa's/Angle's attempt to cloud the issue. There is no need for a 20% tax increase that they continue to threaten. If Gracdale remains status-quo and needs 6 million why does the county have to raise taxes 20% that will generate 16 million. Where is the excess going???? Hopefully the air will clear and the voters will realize that there is absolutely no need to sell Gracedale. If a private company can make a profit so can the county. But the Executive has to allow the administration to do their job and implement cost-saving measures. Fill those empty bed!!!
ReplyDeleteOver at B.O.'s blog he has a post about nursing homes hiring people convicted of crimes. This can only be for one of two reasons. He either believes Gracedale currently has a number of people like this, or the bidder for Gracedale has a history of problems with employees who have criminal records ? Which do you think it is ?
ReplyDeleteI saw the criminal comments over at Bernies as well.
ReplyDeleteHe is an authority on these things.
I guess that is why he is self-employed
Great observation Winston :-)
ReplyDelete