The Lexus Dealership in Escondido apparently opened today.
Just a little perspective:
The California Center for the Arts cost the taxpayers $85 million to build and has run an average of $1 million deficit picked up by the taxpayers annually — while the Lexus dealership cost the taxpayers ZERO and is expected to pay the City of Escondido $200,000 in taxes THE FIRST YEAR.
View? The best restaurants in Escondido were 150 Grand (until it recently closed) and Sirano’s — both with a view of…Grand Avenue!
The California Center For the Arts (CCAE) was designed to bring a little class to an obviously low-middle income city which, like the Czars, presumed to be able to buy class. The Czars, seen by Europeans as boors, bought great art by the ton but were then seen by the Europeans simply as boors who owned great art.
That is the content of an article I published in the NC Times prior to the opening of the CCAE (much to the consternation of my friends) – but it was true then, and it is true today except that in addition to bringing no class to the city it has brought a LOT of red ink with no end in sight.
Good intention, poor execution but a bad idea from the start…and getting worse by the year.
Yes, a very special Lexus dealership (not the normal up-scale Lexus dealership) is a step up for the city…among other things it offsets 15-20% of the annual subsidy the City Council must pay for the White Elephant.
From the NC Times, January 19, 2009:
“The center ran a $412,000 deficit in fiscal year 2006-07 and a $723,000 deficit in 2007-08.”
“With the city facing a $3.3 million deficit this year despite making $2.8 million in emergency budget cuts last week, city officials said it would be particularly difficult to ever a significant arts center deficit this year”
“…However, city taxpayers will continue to cover about $2.5 million in expenses each year at the arts center, including a $1.3 million subsidy to cover programs and $1.2 million for utilities and maintenance.”
So the deficit that CCAE runs each year is in ADDITION to the $2.5 million per year that the City spends! (Read “Taxpayer’s money!”)
That means about $3.2 million a year in total subsidy! That number mirrors, almost EXACTLY the Escondido City deficit!
Looks like we will need 10 or 12 more uber-luxury dealerships – just to continue to support the CCAE at the recently reformed manner it is operated!
No comments:
Post a Comment