The City of Los Angeles, Department of Water and Power is selling their Western District Yard so a developer can build a shopping center. Hmmmm. If you own something outright you don't have to pay annually. This reduces operating costs.
Sorry, I lost my choo choo, my train of thought. Happens that way sometimes. Was I talking about pensions, maybe not. Oh no, I remember, I was talking about DWP selling some land. They will have to pay to have a new building built. Why should we attempt to break even when we don't have to?
Maybe the developer is a good developer, he is Israeli and I bet he got money from government pensions. Perhaps someone should look and see.
Tuesday, May 11, 2010
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