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#1 Jul 24, 2009
Hospital parking hike questionable
Letters Jul 22, 2009
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Am I missing the math?
According to Tim Foranís July 10 article entitled ĎDaily hospital parking to double starting next week,í Halton Healthcare Services (HSS) doesnít expect any profit from the increased parking fees for two to three years.
HSS is spending a total of $1.7 million for upgrades while generating $1.4 million in net fees last year.
The new parking rates should generate about $2.5 million. I deducted $300,000 to account for those who refuse to or canít afford to cough up the extra money.
That would leave it with a tidy profit of $800,000 in one year.
Thatís more than enough to pay off any debt along with all accrued interest and a doubling of all net resources in the future.
This suspiciously sounds like HHS is applying its policy of no-debt financing on the backs of the sick and their families and friends, whose taxes paid to build the lots in the first place.
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