Lake Shore: Appraisal is a waste of money
There is plenty of money being used by the bankrupt TLC Health Network at the moment. Much of it is not theirs, but they have been granted it from the state and the bankruptcy court.
That money is all borrowed.
In the meantime, a motion to allow for the organization to hire a real estate appraiser was approved by the court. This means more money being spent.
We do not agree with this.
Lake Shore Health Care Center, to remain open, needs a buyer. If and when a buyer is found, the potential buyer will have control over how much they are willing to spend for the facility.
Even if the appraisal is done and it finds the campus is worth $40 million, a buyer will not likely pay that sum of money.
We want Lake Shore to remain open. We also want it to be fiscally sound.
But an appraisal at this stage of the game – with money being as tight as it is – could be better spent elsewhere.