Del Mar Considers Bid To Protect Fairground Sale - San Diego, California News Station - KFMB Channel 8 - cbs8.com
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DEL MAR, Calif. (AP) - The city of Del Mar is considering a bid to buy the massive Del Mar Fairgrounds so that coastal property can remain in the public domain.
The City Council voted unanimously on Monday to send a "letter of interest" to Gov. Arnold Schwarzenegger about the 400-acre fairgrounds, racetrack and nearby horse park. It is one of the most valuable undeveloped coastal sites on the West Coast.
Schwarzenegger has placed the property on a list of surplus sites that could be sold to raise cash for the financially strapped state.
City officials are worried that a developer could buy the property, making it off-limits to the public.
The cost of the fairgrounds is estimated between $400 million and $700 million.
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Information from: The San Diego Union-Tribune, http://www.signonsandiego.com
Copyright 2009 The Associated Press.
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