Published: 2 years 84 days ago
Sacramento Bee: After 40 years of state fairs at now faded and outdated Cal Expo, should the state sell the site in hopes of scoring a deal on a modern fairground across town? Cal Expo finds itself at a crossroads – again. Officials are being wooed by a developer who has eyes for the state's 350-acre site and says there's a better future in Natomas for the financially struggling agricultural showpiece.
Here is what Gerry Kamilos is dangling in front of a questioning Cal Expo board this week:
Sell your land to a private development group at today's market value, and we'll give you the 185-acre Arco Arena site free and clear, arena included, for a new fairground and expo.
To sweeten the deal, the developer is offering the state 25 percent of future net profits when his development team sells parcels at the Cal Expo site to builders.
http://www.sacbee.com/2010/02/24/2560062/cal-expo-faces-fairground-decision.html
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