Aw, Poor OC Fairgrounds

Friday, March 19, 2010, by Neal Broverman

To shore up some money for our broke state, Governor Schwarzenegger hoped to sell off some assets/landmarks including the LA Coliseum and the OC Fairgrounds in Costa Mesa. The 150-acre fairgrounds was the first parcel placed on the auction block, and the bids were loooow, reports the Los Angeles Times. The highest bid was $56.5 million from a mall developer--the state was hoping for between $96 - 180 million. The state rejected the mall guy's offer and says it will continue to seek (higher) bids, while a group hoping to preserve the fairgrounds is ecstatic. [LA Times]