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State Lawmakers Propose Selling Off LA's Coliseum

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The Sacramento Bee has the latest on a proposal to sell the state's stake in the Los Angeles Memorial Coliseum. Looking to fix that $14.5 billion deficit problem, Assemblyman Chuck DeVore of Irvine and Sen. Jeff Denham of Atwater are pushing to sell state-owned properties, but Pat Lynch, general manager of the Coliseum and Sports Arena, says that landmarking issues (the Coliseum is a national landmark) would make it difficult to unload the property. According to the Bee, the idea of selling arose when talks broke down between USC and the commission. (The two parties are now close to announcing a deal that would keep the USC football team playing at the stadium.) It's unclear how much the state could get for the Coliseum, but estimates vary from $450 million-$750 million. And ooh, look what else could be up for grabs: According to the paper, "Denham has suggested selling other high-value properties, including San Quentin State Prison in Marin County for $500 million." [Via flickr user sjb5]
· Selling the Coliseum [Sacramento Bee]