Skip to comments.Gov. Proposes Selling L.A. Coliseum, Other Properties To Raise Cash
Posted on 05/13/2009 5:55:01 PM PDT by Steelfish
Gov. proposes selling L.A. Coliseum, other properties to raise cash
Other state assets that could be put on the block include San Quentin State Prison and the Orange County Fairgrounds. The move could raise between $600 million and $1 billion, according to a proposal.
By Michael Rothfeld May 13, 2009
Reporting from Sacramento -- Gov. Arnold Schwarzenegger wants to sell the Los Angeles Coliseum, San Quentin State Prison, the Orange County Fairgrounds and other state property to raise cash amid the state's growing fiscal crisis, according to a copy of a proposal reviewed by The Times.
Sale of the properties, to be included in the governor's revised budget plan on Thursday, would raise between $600 million and $1 billion, although it would not provide relief to state coffers for two to five years, according to the proposal.
Governor: Budget shortfall could reach $21.3 billion if ballot measures fail
Other items on the list for potential disposal include Cal Expo, site of the state fair in Sacramento; the Del Mar Fairground; the Cow Palace in Daly City; and the Ventura County Fairgrounds.
It's not clear whether lawmakers would be willing to part with the real state the governor has identified. Proposals to sell San Quentin and the Coliseum have not advanced in the Legislature in recent weeks.
(Excerpt) Read more at latimes.com ...
HaHaHaHaHaHaHaHaHa! Tax bowel movements Arnold! Charge a buck a flush. That will raise revenue.
Turn Alcatraz into a tourist trap. Keep the prison; let people sleep in it. Put some great restaurants there.
Liberals do not spend their money, they spend other peoples money.
Why not ask back some of the federal lands the goons in Sacramento supported?
If you can tax ‘em they can raise money for you.
left in govt hands, they are worthless as revenue-raisers.
Because they have already been bought and paid for?
My FRiend, I don’t think you realize that what you are purposing is the same attack on the rich that the liberals are mounting. The limo liberals pay their taxes in the same way we do. Therefore, it is not encumbant of them to pay more.
If the reforms that Schwarzenegger proposed a few years ago had been adopted, the state wouldn’t be in as big a hole as it is currently. It would also take a reining in of the out-of-control legislature.
As long as the buyers isn’t a non-American corportation, then fine. I prefer leases.
The Coliseum is estimated to be worth $400 million. I doubt USC has that amount of money unless some of it’s more wealthy alums pitch in to buy it. But don’t hold your breath on seeing that happen.