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The two paid $34,200 for a piece of land which they rented to their corporation for $76,960 annually in a 99-year lease, so that if the apartment they built on it ever defaulted, the FHA would owe them $1.924 million. Trump and Tomasello evidently obtained loans for $3.5 million more than Beach Haven Apartments had cost.
Quincy Medical Center was founded in 1890 as Quincy Hospital, established to treat local granite workers suffering from dust inhalation. [1] Initially operated as a private corporation, the city began assisting in the funding of the hospital in 1896, providing $1,000 to $5,000 per year. [ 5 ]
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