Letter to the Editor: Taking a loss

Dear Editor:

I read with interest that the city of Downey has sold the historic Avenue Theatre for $750,000, making a negative profit of $450,000 in the process.

This transaction was sanctioned by the same people who talked us into approving additional taxes for Downey residents with the passing of Measure S. Great sales job.

I hope they practice better financial engineering with the additional $9 million added annually to the $157 million city budget that they have shown in the sale of the Avenue Theatre.

Jorge Montero