[Editor’s Note: Robert Zirgulis joined fellow School Board candidates earlier this month in touring the Culver City High School swim emporium known as the Natatorium. Closed since the early 1990s, it is in a state of decay.]
[img]697|left|Robert Zirgulis, stepping back into history at the deteriorated Natatorium.||no_popup[/img] Two separate subjects are on my mind.
I've been racking my brain thinking of ways the School District can make money to cover the $3 million deficit.
I spoke to the School Board two days ago and offered some suggestions.
Here is an idea that seems so simple.
Why doesn't the School Board sell some of its property, then lease it back from investors who made the purchases?
I know some investors who buy Post Office buildings and lease them to the Post Office.
The investors put up the money for the Post Office. They get to depreciate the asset over time plus they get rental income.
If the School Board sold a building such as the Natatorium for, let’s say $10 million, the investor could then give a 99-year lease to the School Board for the Natatorium.
The $10 million proceeds could be used to refurbish the place for about $1 million.
The school would then have $9 million to pay nominal rent and pay off the deficit.
The investor would be able to write off depreciation and collect some rent. It would be a win-win situation.
What do your readers think of my idea?
The School Board didn't make one comment when I made my offer.
At least I'm trying.
I will be writing about other brainstorm ideas that come to mind in the next couple of weeks.
On a new subject:
Bravo to Sandra Kallander for standing up to the arrogant City Council (An Accusation Is Leveled — But Was It Proven?).
The people of Culver City should be up in arms about the idiotic actions of the City Council in spending (what I now have been told by a reliable source) over $500,000 in a frivolous lawsuit to try and stop PXP from environmentally safe oil drilling.
Just think what we could have done with that $500,000.
The City Council should have given the money to our School District, which is running into a $3 million deficit this year.
I urge Sandra to join me in exposing these hypocrites who have drunk the kool-aid of the political machine run by the pompous snobs on the “hill.”
Robert Zirgulis may be contacted at zirgulisr@yahoo.com
