Let me help you out.Changing your name and then commenting on the post you just wrote is pretty pathetic (post #17-20 all from Torrance and within 5 minutes). That's fine that you have an opinion on the matter, but don't try to make it seem like lots of different people.
Besides, lots of government agencies own buildings, which they provide services from. At least the BCHD has found a way to continue making money from it, rather than a one time sale.
BCHD takes annual taxes from Manhattan Hermosa and Redondo and uses that to invest in tax-exempt real estate (Yes, they pay NO TAXES) and they spin off cash that they use for whatever the hell they want. They ammended their charter to include health clubs, education (any type), real estate, commercial investment, with virtually NO LIMITS. Let's face it, that's just WRONG.
I agree, they should be folded up, the taxes put to BETTER USE, and the $60-80M given back to the taxpayers that paid in Over the past 50 years, taxpayers have put OVER $100M in taxes in to BCHD, so we really ought to have upwards of $1B in real estate for that investment.
They really aren't very good at real estate in California even (that's BAD for a 50+ year investment record).