A state-owned hospital that Louisiana Gov. Bobby Jindal hoped to lease for $35 million is worth only $20.9 million at best, according to a new appraisal of the New Orleans Adolescent Hospital.

The administration wants to dedicate the potential lease payments to health care costs as part of its strategy to avoid a revenue gap in the fiscal 2013 budget. The current budget includes $35 million in revenue from the proposed long-term lease.

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