Fans keen to Visit the Ranch of Michael Jackson that He nearly Lost to Foreclosure
Mike Davis, Assemblyman of California (Los Angeles), opines that the Department of Parks and Recreation would do well to take over the reins of the Michael Jackson ranch in Santa Barbara County. He felt that Jackson’s fans from across the world would like to pay a visit to his former estate.
The ranch covering 2,500 acres was once an amusement park replete with rides, a zoo containing tigers and snakes etc. But many of these attractions were done away with or sold off following Michael Jackson’s death in 2009.
A private equity firm based in Santa Barbara, Colony Capital LLC took over the control of Jackson’s Neverland as a venture with the legendary singer after the latter nearly forfeited the estate to foreclosure. Jackson handed over the controls of this estate in 2008 for $35 million to Colony Capital.
Colony Capital is now the co-owner of the estate together with the family of Jackson. Owen Blicksilver of the company refused to make any comments regarding the proposal.
There are doubts about the plans being successful in California where the staggering budget gap is $19 billion. Governor Schwarzenegger had hitherto suggested the selling off of all landmark buildings to rope in cash for recouping the shortfall.
Commenting on this Davis said, “Given that we have an economic shortfall… I suspect it would be difficult for the State Parks Department to purchase the property alone”. He has suggested the setting up of a partnership between the private and public sector.
Davis further added that the plan was still in a fluid state. He is considering the introduction of a bill on this matter after the legislators return to work next August. He said he was resolved to find out all the necessary details so as to materialize the proposal. He also said that Alice Huffman the president of NAACP along with others had come to him with this idea.
It remains a question mark as to how the state could pay even for a small part of the ranch and then meet the expenses of maintaining and operating it against the background of recent cuts made to the department dealing with parks and recreations.
In 2009 the Governor had suggested the shutting down of parks in state so as to save funds but later he had to retreat.
