Mater Dolorosa: The Monastery Empire Strikes Back

$10 Million offer not enough for Passionist land - With a $10 million offer recently rejected by the Mater Dolorosa Passionist Retreat Center to prevent the sale and development of some of the center’s open space in northern Sierra Madre, a spokesman for the passionists said it was for good reason.

Cameron Thornton, who works with the Passionists, said while the land in question is valued around at least $20 million – and as high as $40 million – he is not sure the group the Coalition to Save Mater Dolorosa could have come through with its plan.

And with the recent failure of Measure UUT – the user utility tax extension – in this month’s municipal election, Thornton said he felt Sierra Madre voters weren’t going to approve the coalition’s proposal.

“They thought they could make a $10 million parcel tax work,” Thornton said. “What they found out was $10 million would cost a minimum of $155 to $165 per parcel over a 30-year time frame. I think they understood once they projected it and did the math that it just wasn’t viable.”

Thornton said the Passionists have for years tried to save the land themselves so they wouldn’t have to sell it.

“We tried every way you can imagine to come up with the money needed,” he said. “We for seven or so years have been looking at a number of possibilities. We recognize the sacredness of that land.” He added the group even tried a grass-roots effort, but to no avail.

“We’ve reached out for 18 to 24 months to Catholic donors and other groups to raise the money and we couldn’t do it,” he said. “That leads us to where we are today.” Thornton said any developer that is chosen will need to be able to work with the neighbors and residents of Sierra Madre.

“What we’re looking for in a development partner is someone who’s sensitive to the needs of the neighbors and someone who is willing to reach out as much as possible,” he said. “We expect the developer to be a good neighbor that fits in.”

The reason land needs to be sold is to pay for the medical care of the aging Passionists, Thornton said.

“We’re taking care of our family,” he said. “The Passionists are our family. We’re doing what any other family would do. We’re making sure we have sufficient funds to take care of them.”

Matt Bryant of the coalition said he was hoping no land would be developed and the grounds of the center would remain in the status quo.

“We wanted to preserve the open space,” Bryant said. “We tried to create a win-win solution. Unfortunately, we failed. We made them a substantial proposal. We thought it was a good offer. We could have gone up to $15 million, perhaps. But they have gone in the direction of a developer.”

Bryant added now the group has to change its gears and monitor the development to make sure it doesn’t encroach on the existing community.

“The concern that we have now is you have to maximize what goes on up there, the size of the houses, the number of houses,” he said. “You’re talking about one of the largest housing projects Sierra Madre has seen in decades. We’re very concerned about it.”

(Mod: The at times unctuous Cameron Thornton appears to be a sort of "wealth management planner" with an office in Burbank. Apparently his shtick is bringing a schmaltzy perceived high mindedness to what is basically a service offered to panicky middle-agers fearful of ever being able to successfully retire. He even quotes Mahatma Gandhi on his website, a legendary historical figure not ordinarily associated with wealth management planning. You can check out Cam "in situ" by clicking here. I've also posted some of this below.)

To help people achieve what matters most in their lives, Cameron M. Thornton founded Cameron Thornton Associates in 1982 - a Registered Investment Advisory firm in California.

Cam’s aim through his professional work is to help people keep the promises that they have made to themselves.  He guides them through a process which allows them to bridge what they own, and what they believe.  He does this by combining The Wealth Development System™, his unique wealth growth and preservation solution, with the family-first planning philosophy of The Navigator Heritage Process™.

Cam’s focus on helping people’s dreams to thrive from one generation to the next was the inspiration for partnering with co-author Rod Zeeb to write the novel, What Matters.

Cam was named to Bloomberg Wealth Manager’s Top Wealth Manager List when Cameron Thornton Associates was a SEC Registered Investment Advisory firm from 2001 through 2008.

Today Cam provides heritage planning services through Navigator Legacy Partners, LLC, of which he is a founding partner.

Cam was educated at the University of Southern California, where he received a BA in Psychology in 1976.  After college he spent four years as a commissioned officer in the United States Navy.  He went on to earn his Master of Business Administration from the University of La Verne School of Business and Global Studies in 1983 as well as the Certified Financial Planner™ designation in 1986.

Cam gives of his "time, talent, and treasure" to the Mater Dolorosa Passionist Retreat Center, currently serving as the Chairman of the Board of Directors.  He has a history of community service including serving as Vice Chairman of the St. Joseph Medical Center Foundation, Chairman of the St. Joseph Medical Center Planned Giving Department, Chairman of the City of Burbank Police Commission, Chairman of the City of Burbank Planning Board, Chairman of the Burbank Chapter of the American Red Cross and Scoutmaster of Troop 209 of Boy Scouts of America.

(Mod: I wonder if Cam is now advising his clients to invest in a certain Sierra Madre development project. You just never know about these things. There is also the matter of what this development is going to be called. Are they considering The Holy Land?)

http://sierramadretattler.blogspot.com