Murrieta City Council Turns A Profit on Land Sale: Lets Send Them to Washington!!!

With All The Uproar About The Financial Markets and the lack of response from our elected Representatives in the nations Capitol as they continue to waste Billions of dollars it is refreshing to hear some elected officials are actually doing a Good job. The Murrieta City Council is one of the groups making sure the work they perform benefits those that elected them not themselves.

In September The Council Acting As The City Redevelopment Agencysold 9.8 acres of land situated between Madison Avenue and Interstate 15 behind, Wal Mart, for $5.2 Million The property is slated for development bringing 2 hotels plus restaurants to the area along with a possible car dealership and 53,000 square feet of Commercial Retail space as part of a 130 acre project called Cascada Del Sol.

What Is Unique About The Sale Of This Propertyis the fact that the City of Murrieta bought this land in 2004 for $3.85 million and sold it in 2008 for $5.2 million creating a $1.3 million dollar Profit. A Profit that will go back into the Redevelopment Agency fund to be used in other areas of the city. The development of this property will also bring in New sales tax revenue so it truly is a Win Win proposition for Our city and all of us who call Murrieta home.

A Profit in These Times is A Job Well Done!!!!