Costa Mesa Vote on the Orange County Fairgrounds, Measure C (June 2010)
Voters will decide whether to approve the city's general plan amendment language that designates allowed uses for the 150-acre fairgrounds. Under the city's plan, an owner of the property would be able to use the property for equestrian, concert and live entertainment event, but would not be allowed to use the property to house a casino, a shopping center or a residential community., An owner would also not be allowed to use the fairgrounds for medical buildings, storage facilities, hotel and motels, exclusive or dedicated usage by athletic sports fields or educational uses that are unrelated to the fair and exposition center.
A future owner would also have to pledge to allow the grounds to continue to be used annually for the popular Orange County Fair. The four-week fair typically draws one million annual visitors.
The Orange County Fairgrounds is currently owned by the State of California. However, the California State Legislature in July 2009 voted to sell the property to a private owner in order to raise money to deal with the state's ongoing fiscal crisis. The fact that the fairgrounds will pass out of government ownership into private ownership is what has led the city down the path of restraining future uses that the land could be put to.
Craig Realty Group
Craig Realty Group had the high bid of $65.5 million in an auction conducted by the state to sell the fairgrounds. Craig Realty, based in Newport Beach, is primarily known as a developer of outlets. The sale is not final.
The bid of $65.5 million is considerably less than the $96 to $180 million range that the state government predicted that the land would sell for.
If voters impose a number of restrictions on what the 150-acre parcel can be used for, that may diminish Craig Realty's interest in purchasing the property at their current bid level, and it may also diminish the general sales value of the parcel, which would ultimately hurt the ability of the State of California to sell the land at anywhere near the price it originally expected.
- Orange County Metro, "Costa Mesa officials approve fairgrounds ballot measure", February 16, 2010
- Daily Pilot, "Fairgrounds’ land use goes to a vote", February 15, 2010
- Daily Pilot, "Fairgrounds use to be clarified", February 2, 2010