As expected, our naive Glendale Redevelopment Agency fell for the recent Hollywood show-biz hype and decided to get serious about buying the old Alex Theatre to house an even older castoff organ from La Canada Flintridge. Fortunately for Glendale taxpayers, the Brooklyn Bridge is not located in our area!
In spite of taxpayers' concerns, the Redevelopment Agency hasn't the faintest idea what the eventual cost of its action will be. After all, it's talking only $500,000 at the moment. The eventual cost could be $15 million or $20 million, or even more. In addition, there will be renovation costs, loss of property taxes and extremely high ongoing maintenance costs, etc. Is the Alex earthquake-proof? What about the cloud on the title of a portion of the property involved?
Many taxpayers will agree that this investment in an obviously very, very white elephant should be beyond the authority of our Glendale Redevelopment Agency and should be required to have voter approval next April before any part of the $500,000 is spent.