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  • SMa.r.t. Column: Room to Breathe!

SMa.r.t. Column: Room to Breathe!

07/31/2020 8:32 AM | Margaret Fulton (Administrator)

Three days ago, your City Council gave away your land in the center of downtown for 30 pieces of silver. The giveaway did not produce any cash; instead, your city council proposed to give an out of town developer 2.5 acres of the people’s land at 5th and Arizona. This land is worth at least $62 million in today’s dollars, and the lease is for the next 99 years. We receive nothing, zip, zero, nadaImagine what the parcel will be worth 99 years from now! For that very tidy easy to count sum of zero dollars, Santa Monica receives:

• 11 stories of hotel, offices, and retail space, which we won’t need

Read More: https://smmirror.com/2020/07/sma-r-t-column-room-to-breathe/

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