Wednesday, May 11, 2016

New taxable value for old St. Francis hospital?

Posted By on Wed, May 11, 2016 at 12:09 PM

click to enlarge A portion of the older part of St. Francis Hospital, 825 E. Pikes Peak Ave. - PAM ZUBECK
  • Pam Zubeck
  • A portion of the older part of St. Francis Hospital, 825 E. Pikes Peak Ave.
Last week, we reported on what the actual terms of the sale of St. Francis Hospital were, according to sources close to the deal. ("The real deal," May 4, 2016.)

The short version is that an entity created by David Jenkins, owner of Nor'wood Development Group, among the biggest developers in the region, paid $50,000 for the buildings and nine acres a few blocks east of downtown and another $1 million or so in a donation. That tax-deductible contribution went to the Penrose-St. Francis Health Foundation.

But that extra outlay wasn't figured into the value of the property for tax purposes, so Jenkins is still paying property taxes based on the $50,000 reported sales price.

When we asked David's son, Chris Jenkins, about that, he responded via email, saying, "As is public record a Nor'wood managed entity purchased the St. Francis property from Centura Health on January 31, 2014. Regarding our personal donations to philanthropic institutions, that information is private."

Now, County Assessor Steve Schleiker will revisit the taxable value, he tells the Independent in an email.

"I am reaching out to Dave and Chris Jenkins [his son] to discuss the [Indy] article and the considerations paid, and I hope to have this conversation in the next couple of days," he says.

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