Quote:
Originally Posted by WinCitySparky
North America is in the lowest tax era in 100 years chum, read a history book.
Something relatively positive is happening downtown and I’m here for it. Take your bitter outlook somewhere else.
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A)
Fake news.
B) Appeal to tradition: Using previous mistakes to justify current ones.
C) Clearly you haven't had to use the health system. It has collapsed. Past tense. It collapsed because of undersupply and mismanagement, including fiscal waste. From all political parties. Fiscal waste, like this health tower, which is happening right in front of our eyes. Continued waste further decreases health quality and supply, or drives its price up. Or both.
Even if $77m/yr is the total operating cost, avg RE cost is about 20% of that. Or $15m/yr. Totaling $540m in capital/RE costs over the 35yr term. With nothing to show for it at the end, $540m gone. Poof.
For comparables:
-The
currently constructed Neepawa Hospital is half the sqft as this "health tower" for only $127m, or $260m for equal sqft. It's cheap, because it's built in a literal field.
So you could build 2 of these health towers with the same money, if they were built on non-prime land. And own, not lease.
-But that's comparing to a hospital, which has heavy medical equipment and building standards. This health tower is "primary care, addictions, dialysis". Apart from dialysis, primary care is basically an office building. Very minimal expensive equipment. So GoM is
expensing $540m for 300,000sqft of basically office space.
Yet 300 Main is 580,000sqft and was just built for $165m. On even more prime land than this. You could build three 300 Main's for the same money, totaling 6x the sqft of this health tower.
The math ain't mathing bud. And I ain't walking on eggshells to protect your or anyone else's feelings over accepting the hard truth.
This is an absolute taxpayer rip-off. So much so, I can't see how corruption isn't present.