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Committee advances Baker Places repayment and property-transfer plan after lengthy review
Summary
After extended questioning on collateral and service continuity, the committee forwarded a resolution approving a multi-decade repayment plan for Baker Places/PRC that requires repayment of about $7.7 million over 22–23 years and a purchase-and-sale of 333 Seventh Street (assessed at $3 million) to offset debt, while asking departments for further asset assessments and a long-term capital plan.
The Budget and Finance Committee on March 27 advanced to the full Board a resolution that would formalize a multi-year repayment agreement between the City and Baker Places/PRC and a purchase-and-sale of property to reduce a city‑owed debt.
Vice Chair Rafael Mendelmann opened the item as "the bookend" on a multi‑year crisis for Baker Places, describing its role in residential behavioral-health treatment and noting a 2022 controller audit that found cash shortfalls and weaknesses in financial controls. DPH and other city staff presented a debt‑repayment proposal that would require Baker Places to repay approximately $7.7 million over roughly 22–23 years, inclusive…
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