Tear It Down And They Will Come?

The Community Redevelopment Agency in Buena Park has been buying business properties from private companies.  The buildings on some of these properties are demolished while others are left intact.  The Agency then waits around for a new buyer.

Why would the Buena Park Community Redevelopment Agency want to do this?  One of the main reasons is to bring new entertainment related enterprises into the E-Zone.   However, city governments have a poor record as real estate and business brokers.

The old Movie Land Wax Museum property is still vacant years after it was purchased by the Buena Park Community Redevelopment Agency.  The Agency Board (totally comprised of the five current members of the Buena Park City Council) is still trying to figure out what to do with this property.

The purpose of a re-development agency is not to change the physical dynamics of a business community. Its’ purpose is to provide the means to build major projects which will be beneficial to the general public.  

A good business plan does not include demolishing a run down hotel in the hopes that a four star hotel will then want to occupy the same space.  Marketplace dynamics should dictate what kind of business will prosper at this location.

If the Buena Park Community Redevelopment Agency’s purpose is to increase E-Zone tourism, it should let the private sector handle it.  The E-Zone businesses have already banded together to address this issue.  To borrow from a James Bond movie theme- “The Private Sector Does It Better.”