Yesterday, Orange County and Costa Mesa agreed to work together to produce a bid to buy and run the Orange County Fairgrounds. The reality of this action is this is something that neither the County or Costa Mesa should have to do and this is the last line of defense against redevelopment of the Fairgrounds. The documents are available here.
As Costa Mesa City Council Member Katrina Foley has said again and again, we should not have to buy back something we already own. We are being forced to buy the Fairgrounds, which we already own.
Orange County and Costa Mesa putting in a bid is the last line of defense against a future Kristina Dodge Sports Stadium and Entertainment Complex. Any private party (and yes, a non-profit is a private party) who buys the Fairgrounds and says they will keep it the Fairgrounds is not to be believed. Even if the near term plan is to keep the Fairgrounds the way it is, the long term financial pressures created by the debt from the sale will force the eventual redevelopment of the property. From a real estate and financial perspective, it makes perfect sense to put a stadium or major entertainment complex on the site.
To try their best to keep the Fairgrounds, both Costa Mesa and Orange County will be forced to sell bonds at a time when it is difficult to sell bonds and quite frankly, neither party has the money for this nonsense.
And remember this all happened because the Fair Board, now led by Chair of Both the Board and Foundation Kristina Dodge, decided to ask to have the Fairgrounds put up for sale. Really, with all of the mess these folks have caused, should they still be allowed to run Fairgrounds?
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