9050 Washington purchase (A-1)

Supported the city investing a small amount to evaluate buying the property and developing the economic atmosphere.

A former city treasurer, warned that conduit financing and revenue bonds are different animals and guarantees can change the risk picture dramatically.

Demanded an independent appraisal, a 30-year forecast, and a public benefit statement before any money is spent.

Asked why the city is entertaining a project residents aren't requesting, and demanded transparency, competitive procurement, and third-party audits.

Said the city wants to pay $103 million for a building that sold for $71 million five weeks ago and asked that the item be tabled.

Said the item has been in the works since June with zero community input — not transparency, but recklessness with the people's money.

Said the money should fix parks and sidewalks, not go on the city's credit card, and accused members of fiscal malfeasance.

Asked the city to explain negotiation-related disclosure limits and to add outside experts and community members to the JPA.

Flagged the ~$2 million property tax roll loss, $200 million-plus debt over 30 years, and said the Class A office building isn't suited for conversion.

Said the process was done backwards and in the shadows and raised Brown Act questions about closed session discussion of the purchase purpose.

Questioned the price gap, the bumpy Washington Boulevard repaving, and fiscal responsibility, citing the gun store purchase.