Planned Parenthood Blows Wad
Remember that old Zakie Farmer’s Market building down on Orangethorpe? Yesterday my greasy broker called with an interesting discovery. This odd building was quietly sold to Planned Parenthood of Orange and San Bernardino Counties in 2006 for $3,375,000. They had credit and they wanted to build one of those women’s clinics here in Fullerton.
Planned Parenthood spent three years submitting plans to the city but abruptly gave up in 2010, leaving the property to sit idle for a total of nine years. They finally sold the property in 2015 for $1,750,000. That’s a $1.6 million direct loss, excluding any opportunity costs, mortgage interest or property taxes. Our team of crackerjack financial analysts estimates the total loss at $3.4 million. That would be more than the original purchase price!
This was a major screw up by any measure. So what caused PP to buy this overpriced pad, kick it around for a few years and then leave it to las cucarachas?
And why does any of this even matter?
It doesn’t.
Unless you are a donor to Planned Parenthood, in which case you might like to know where your money went. Or it might matter if you’re a taxpayer. Planned Parenthood receives about $550 million a year in government subsidies, making each of us some sort of stakeholder in this giant misadventure.
Your tax dollars at work.
Sinking. Spinning. Slowly . . . Down the toilet.
To be fair, everyone knows that real estate never recovered after the 2007 lows.
To be fair, speculating with tax dollars is illegal.
Bank Robbers Don’t Call the Police on Other Bank Robbers!
A million government misfortunes have been laid at the doorstep of the Great Recession.
But anyone care to compare city salaries with 2008? Up, up and away.
What in the hell are you talking about? Real estate has more than recovered since 2007.
So how come our crack economic development expert – Nicole Bernard – hasn’t worked her magic on that site?
She is an expert, right? She’s paid like one.
I heard that it will be converted to a lovely drive thru restaurant. How’s that for economic development?
Doc Hee Haw probably got wind of it. “Nuh uh. Not in mah town!”
Like a newly married couple Doc HeeHaw hoped to bring a healthy baby into Fullerton.
Interesting article. I wish you could find out more about why Plan Parenthood facility never opened for business. Was there any major impediment to it from the City?
I agree. It is interesting. And I hope your broker doesn’t read this blog.
Then again, they won’t care what you say about them as long as they earn commission from you. 🙂
Congressional Republicans want so badly to remove all federal funding from Planned Parenthood. Probably not a good idea for PP to give them more ammunition.
the Grand Old Party want to end government funding of Planned Parenthood(PP) or shift fiscal responsibility from federal government to state and municipal level?
Huh-looks like nut bag Imbriano ran em off. This was back last summer-http://thefullertoninformer.com/are-these-blood-sisters-and-brothers-in-the-baby-parts-business-2/
http://thefullertoninformer.com/are-these-blood-sisters-and-brothers-in-the-baby-parts-business-2/
Warning. Do not click that link.
Crazyville.
Did anyone call them to ask why they abandoned the effort to build a clinic here in town?
Also, PP receives government funding for services, not property purchases, as far as I know.
Anyway, the fence is a good place to hang campaign signs.
Money is fungible. Just because cash is coming from A and B doesn’t mean it’s OK to be wasteful.
Fullerton rag
Good points! It looks like the downpayment was about $600k. I am not too sure only the donations to PP would be going to the mortgage payments. ….Either way the property 2006-2015 sale price differential is alarming
When private funds underpay on what public funds had overpaid, many lose and a handful win. The winners-perhaps also scammers – tend to be government officials and corporate executives colluding…
Beware of,the government officials and corporate executives industrious tax dollar theft complex, because we pay taxes to support our civic infrastructure only to,have it siphoned off into silly, “redevelopment” schemes,
Remembering Pam Keller and Sharon Quirk Silva, Fullerton city council members, schmoozed by developers in exchange for our tax dollars funded construction contracts, (past article posted by FFFF).
So glad to not see this happen in fullerton.i cringe every time i drive by the orange facility. It seems a “real” family planning clinic would help people find life solutions,to place children with families, instead of deny them the opportunity.
As a Fullerton lifer I remember this property was or adjacent to a Fosters Freeze fast food restaurant. Zakie’s death knell for this property, and it has been an eyesore since this market closed its doors a decade ago; now I know why.
Earlier posts state tax dollars pay for Planned Parenthood (PP) services, not for buildings to house these services, and thus not responsible for diverting three million dollars from meeting the needs of Fullerton’s community into an empty building. This empty building is a testament to PP’s gross mismanagement of its funds .
This story reminds me of a similar story solely orchestrated by the Doctor Dick Jones flavored Fullerton City Council five to,six years ago., where this council earmarked six million tax dollars to move a McDonalds approximately six feet west of its present location on Chapman Avenue..
Thanks to the efforts of the media, including FFFF, exposing Fullerton City Council’s stupidity of shifting six million tax dollars into six feet, caused these city council members quickly canceled this ” downtown redevelopment”.
The movers and shakers at Fullerton’s very own PP obviously incompetent and should be shifted as many feet as possible from their decision making , management positions before they do more damage to the public.
doing some quick, sloppy math, Doctor Dick Jones Flavored FullertonCity Council approved spending 83,000 tax dollars on an inch.