Dear Editor,
We’d like to respond to and address your editorial in the March
17 issue saying it is time that Bonfante Gardens Family Theme
Park
”
stands on its own merit.
”
Dear Editor,
We’d like to respond to and address your editorial in the March 17 issue saying it is time that Bonfante Gardens Family Theme Park “stands on its own merit.”
Bonfante Gardens Family Theme Park is not a “failing business” in search of a “fairy godmother.” Rather, Bonfante Gardens experienced a successful 2005 season marked by increased attendance, substantial debt reduction and increased EBITDA. The park is expected to make bond, principal and interest payments as agreed upon with the creditors as the basis for the restructure. We are confident our 2006 season that begins April 1 will likewise be successful.
Like most businesses, Bonfante Gardens continues to look at its assets and explore ways that those assets can be used to best fulfill the needs of the non-profit organization. Currently, one of our primary financial goals is to build a reserve fund. Increasing reserve funds is not only prudent business practice but a requirement of our bond agreements. One way to accomplish this goal is by selling land.
When Bonfante Gardens first put land up for sale for commercial purposes, the park was blasted by The Dispatch for “taking advantage” of the current zoning of the property. The Dispatch referred to this as “ridiculous zoning.” In fact, the Cheers and Jeers section in the December 5, 2005 issue was headlined “Bonfante Tire & Brake” and stated that the City Council should have changed the zoning on our property when it approved RDO’s for land that was sold to Shappel so that something inappropriate won’t be built in the Hecker Pass Corridor.
Bonfante Gardens has now applied through the appropriate channels with the City of Gilroy to change the zoning on a five-plus acre parcel of land across from the park on Highway 152 so that potentially four to five residential homes could be built. The park is asking the city to explore this option as an alternative, not a “special favor.”
The park’s request to rezone the land on Highway 152 is only one of several options to help Bonfante Gardens build a reserve fund and further the success of California’s only horticultural theme park, allowing Bonfante Gardens to continue to “stand on its own merit.”
Bob Kraemer, Joel Goldsmith and Greg Martinez, Bonfante Garden Board of Directors
Communications Committee
