Beckman's old 44-acre Fullerton site is on the market for an undisclosed amount. It sits in the middle of an industrial area on the Fullerton-La Habra border, making it an idea place for manufacturing or distribution. The accounts for about 1/4 of the City's industrial space in northern Fullerton. The jobs lost as a result of the downsizing and economy is unfortunate and is compounded by the loss of tax revenue generated at the location.
Currently, the property is zoned for manufacturing but according to Fullerton Community Development Director, Al Zelinka, the City may have to amend the general plan and zoning ordinance to some sort of mixed use. With the ongoing general plan update, community members have strongly urged that the City NOT loose business and manufacturing space. What the community wants and what Zelinka is proposing may be at odds depending on which uses are mixed. Retail may work since there is a Home Depot across Lambert and there is a steady flow of traffic in the area.
Currently, the property's tax is based on a value of $5,108,609 which works out to be $55, 417.10 in total annual property taxes. I have heard estimates that the property is really worth $30 to $40 million, maybe more. An increase in tax revenue just from the sale would be a huge stimulus to the City.
For the sake of discussion, let's assume we didn't need the revenue. There has been some talk concerning the lack of parkland in North OC as compared with South OC. Would this site, which is nearly identical in size to Hillcrest Park, be sufficient to accommodate a new park and would that public use trump the fiscal needs of the City?
And how long before the Fullerton Redevelopment Agency declares blight and takes over the property?
