A Commercialized Park Looks for More Money - Los Angeles Times
The Trust says its efforts to coax foundations, dance companies, artists, lawyers, mortgage bankers and corporate headquarters to take up residence in what once was the nation's longest-operating military base are crucial to the park's financial future. Though the Presidio was propped up initially with a $25-million congressional appropriation, that figure has been whittled down every year. By law, the Presidio must be self-sustaining in six years or Congress can close the park and sell its land and buildings, including the nation's largest concentration of historic structures.
Quite frankly, and speaking as someone who used to bicycle all over the Presidio almost every day, I'd have no problem if this came to pass. Much as a lot of folks in my town might disagree, the hard facts show that the private sector always makes better, more productive use of real estate than the public sector does.