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Jennifer L. Hall
From:fong david <
Sent:Sunday, September 27, 2020 9:03 AM
To:Loretta Day
Subject:Anaheim Stadium
While we copied the following text from an email we received, we completely agree with its points and
are thus using it in our email to you:
To the Mayor and City Council,
As an Anaheim Real Estate Broker for over 35 years, I am shocked that the City of Anaheim is willing to give
away over $1 BILLION DOLLARS to a Billionaire! The latest proposal to sell the stadium property to Angels
owner, Arte Moreno, went from Bad to Worse.
The property next door to the stadium parking lot recently sold for over $4 Million/acre, yet the city plans to sell
the 153 acre stadium property to Moreno for $150 Million ( less than $1 Million/acre) and the deal includes the
Stadium and the Grove Theatre for FREE! This is an outrageous give away of Anaheim taxpayer property, at a
time when Covid-19 has caused an upside down budget for Anaheim. Plus, Moreno has the ability to sell the
entire entitled property for a huge profit. The City should at least include a clause in the transaction that should
Moreno decide to sell, the City has the first right to buy back The property at Moreno's cost, rather than allow
him to profit at the City's miscalculations.
I DO NOT support the City selling the Stadium property with the current plan. VOTE NO, AND WORK ON A FAIR
DEAL FOR THE ANAHEIM TAXPAYERS!!!
YOU WILL BE VERY EMBARRASSED WHEN SRB/MORENO GET'S THESE ENTITLEMENTS APPROVED AND
THEN SELLS THE PROPERTY FOR 100's OF MILLIONS OF DOLLARS IN PROFITS! THE TRANSACTION SHOULD
AT LEAST HAVE A CLAUSE THAT ALLOWS THE CITY THE FIRST RIGHT TO PURCHASE AT THE BUYER'S COST
SHOULD THEY DECIDE TO SELL. WHY SHOULD SRB PROFIT AT THE EXPENSE OF ANAHEIM TAXPAYERS?
As our leaders, I hope you will look closely at what this proposed agreement and plan DOES NOT
OFFER....NAMELY, THE MARKET VALUE FOR THE PROPERTY ( $150Mil for 153 acres, how much do the
taxpayers get for the Stadium and the Grove? $0...that's how much!). Your NO VOTE CAN take Anaheim and
their residents to the next level.
Please do the proper thing and VOTE NO. THIS IS NOT a great deal for the City of Anaheim.
Sincerely,
David and Carole Fong
Life long and 25 year residents of Anaheim, respectively.
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