The Much Awaited PPH Finance Committee Meeting
The Finance Committee of the Palomar Pomerado Health (PPH) district will have a joint meeting with the Board of Directors on January 26, 2006. The agenda is attached.
http://civics.robroy.cc/PPHBdAgenda012606.pdf
The first item on the agenda is instructions to the PPH negotiator regarding the terms of payment for lots 27-36 of the ERTC. (Estimated date of public disclosure is February 28, 2006.)
This is curious!
First, PPH already owns ERTC lots 30-32. The purchase contract for lots 30-32 and the land records from the SD County Recorder's Office are available at the following links!
http://civics.robroy.cc/ERTCopt1.PDF
http://civics.robroy.cc/2005-0226220GrantDeed.pdf
http://civics.robroy.cc/2005-0226221relocation.pdf
What "terms of payment" needs to be negotiated with JRM-ERTC for lots 30-32? PPH has already paid JRM-ERTC $6.56 million for lots 30-32! This must be another "mistake"!? These "mistakes" appear to be the trademark of the Covert administration.
Second, regarding the "terms of payment" for lots 27-29 and 33-36, this was negotiated last winter and memorialized in a written option contract. Article 2 and Paragraph 5.1.1 of the option contract dated March 18, 2005, appear to define the "terms of payment" for lots 27-29 and 33-36! $28.08 million in cash must be delivered to the Escrow Agent. Pretty simple.
http://civics.robroy.cc/ERTCopt2.PDF
Perhaps PPH wants to discuss the Development Agreement they need to provide to JRM-ERTC in order to close escrow on lots 27-29 and 33-36 as required by paragraphs 4.2.6 and 5.1.2. PPH must provide a mutually acceptable Development Agreement to JRM-ERTC for the "joint development of up to 300,000 square feet of medical office building space and associated parking . . ." If PPH wants to instruct their negotiator regarding the JRM-ERTC Development Agreement for medical office building space, they should clearly indicate that on the agenda.
The third item on the agenda is interesting: "Report on Negotiations with City of Escondido Regarding Development Agreement"
Most interesting is what is not on the agenda. Missing from the agenda is discussion regarding the recently disclosed $230 million funding shortfall in the PPH plan for hospital seismic retrofit and expansion. Maybe the massive funding problem is not of sufficient importance at this time to warrant inclusion on the agenda.
A massive $230 million funding shortfall is not an urgent matter for PPH?
http://civics.robroy.cc/PPHBdAgenda012606.pdf
The first item on the agenda is instructions to the PPH negotiator regarding the terms of payment for lots 27-36 of the ERTC. (Estimated date of public disclosure is February 28, 2006.)
This is curious!
First, PPH already owns ERTC lots 30-32. The purchase contract for lots 30-32 and the land records from the SD County Recorder's Office are available at the following links!
http://civics.robroy.cc/ERTCopt1.PDF
http://civics.robroy.cc/2005-0226220GrantDeed.pdf
http://civics.robroy.cc/2005-0226221relocation.pdf
What "terms of payment" needs to be negotiated with JRM-ERTC for lots 30-32? PPH has already paid JRM-ERTC $6.56 million for lots 30-32! This must be another "mistake"!? These "mistakes" appear to be the trademark of the Covert administration.
Second, regarding the "terms of payment" for lots 27-29 and 33-36, this was negotiated last winter and memorialized in a written option contract. Article 2 and Paragraph 5.1.1 of the option contract dated March 18, 2005, appear to define the "terms of payment" for lots 27-29 and 33-36! $28.08 million in cash must be delivered to the Escrow Agent. Pretty simple.
http://civics.robroy.cc/ERTCopt2.PDF
Perhaps PPH wants to discuss the Development Agreement they need to provide to JRM-ERTC in order to close escrow on lots 27-29 and 33-36 as required by paragraphs 4.2.6 and 5.1.2. PPH must provide a mutually acceptable Development Agreement to JRM-ERTC for the "joint development of up to 300,000 square feet of medical office building space and associated parking . . ." If PPH wants to instruct their negotiator regarding the JRM-ERTC Development Agreement for medical office building space, they should clearly indicate that on the agenda.
The third item on the agenda is interesting: "Report on Negotiations with City of Escondido Regarding Development Agreement"
Most interesting is what is not on the agenda. Missing from the agenda is discussion regarding the recently disclosed $230 million funding shortfall in the PPH plan for hospital seismic retrofit and expansion. Maybe the massive funding problem is not of sufficient importance at this time to warrant inclusion on the agenda.
A massive $230 million funding shortfall is not an urgent matter for PPH?
posted by Robroy at 11:06 PM
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