Renting is WAAAY Cheaper Than Owning

According to the plan filed with the court, UMC has agreed to drop the rent they are charging El Paso Children’s Hospital to $500,000 a month (http://elpasochildrens.org/…/uploa…/2015/08/Document-436.pdf pg 33). Veronica Escobar has stated numerous times that rent (for both Children’s and UMC) is to be used for depreciation. However, we questioned this in an earlier post (https://plus.google.com/11748609634482589…/posts/TQhwDvxo37E). If the rent that UMC was paying itself was insufficient (or non-existent) enough for it to need a bond for the recent upgrades, what is going to happen to the rent that El Paso Children’s will now be paying on a regular basis? Will El Paso Children’s have access to this money in the event that they want/need updates to the building, or will they have to pay for those separately? Finally, where will this money be held? Is it going to be in a separate account specifically for the El Paso Children’s building, or is it just going to disappear into the UMC financials and be used to pay bonuses to the UMC executives? 

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