Closed Hospital And Foreclosure Ailments
Wednesday, July 18th, 2007Now well fare institutions like hospitals are coming under the cloud of foreclosures. St. Joseph Hospital on Fort Worth, near the south side, has been shut down. The New Jersey based owner says that more than $9000,000 as tax backlog, fines and interest will be paid before the property goes up for auction in the following month.
The Vice President of Diversified Capital, in Lakewood, New Jersey dealing with business development, said that although they are not happy and are grumbling, they would pay all the dues. But one thing for sure was that they were not going to surrender the property to foreclosure.
In May 2007, the ruling of the District Court judge was that SJG Partners, limited partners of Diversified Capital, is liable for the payment of taxes that have accrued since 2000. SJG Partners had purchased the property on South Main Street and Allen Avenue. It was a property under the hammer of the foreclosure. At that point of time, August 2005, the previous owners had failed to pay taxes to the tune of $695,000. As per the Sales Order issued by the office of the District Court the tax bill had shot up to $917,319. The date fixed for the auction is 7th August.
Diversified was sued by both Fort Worth, Tarrant County and Fort Worth School District in January last year (2006). Diversified answered that they did not owe taxes because they were not owners of the said property during the years the taxes had been accounted.
The property in dispute was the first hospital in Tarrant County. It was founded in 1885. It is a 12 storey structure made from red brick was added to the original structure and came to be called St. Joseph. It came to be owned by HCA/Columbia Healthcare Corporation when in 1995 it had to be closed.
Heritage Geriatric Housing Development of California bought the unit and redid the lower floors into Alzheimer’ Centre, St. Joseph’s Garden. It had to be closed in 2000.
Stern gave the information that Diversified has further ambitious plans. It is moving ahead to develop further the property with shops, offices and residential quarters that would be worth more than $50 million. He also added that recently there plans had been afoot to sell the property to a local oil and gas concern but the deal fell through.
