How can you miss the fight in Del Mar?
Del Mar & Private Investment Group VS. Solana Beach VS. Fairgrounds Board
What is the latest?? Jeff McDonald & Jonathan Horn from the Union Tribune bring you updated news… on the Key players and points of view:
Del Mar
- • Wants sole ownership of fairgrounds.
- • Proposes having a private company manage horse racing and a nonprofit run the county fair and other events.
- • Views the sale as the only way to prevent what city leaders call runaway fairgrounds development.
Private investment group
- • Led by well-known horse owner Mike Pegram.
- • Would front $30 million to assume what would become a 55-year lease of the fairgrounds.
- • Would spend millions upgrading the backstretch and other facilities while promoting a year-round thoroughbred focus.
Solana Beach
- • Opposes Del Mar’s sole ownership.
- • Prefers creating an agency headed by elected officials from throughout the county, known as a joint powers authority.
Fairgrounds board
- • Opposes sale and local control of fairgrounds
- • Believes Del Mar is undermining the fairgrounds’ sustainability by opposing key parts of the master plan.
- • Promotes development on the property to counter declining interest in horse racing.
Our new governor has placed this sale on the back burner for now…. hopefully, for future studies as to the feasibility of the state losing one of it’s money making properties to assist in a budget crisis.
What are YOUR thoughts regarding the possible sale of the Del Mar Fairgrounds? What will it accomplish for Del Mar? Will it increase the value of homes in Del Mar…. or the surrounding communities?
Posted in Real Estate Information
