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 July 20, 2009

If State Puts Fairgrounds for Sale, Del Mar May Buy them
Governor Arnold Schwarzenegger has proposed the sale of the Del Mar Fairgrounds and Racetrack as means of garnering funds to aid in the State's financial crisis. The Del Mar, California City Council is keeping their eye and ears open, as they may be the buyer if the fairgrounds are indeed put up for sale.
On Monday, July 13 the Del Mar city council voted unanimously to send the Governor a letter of interest. The classic ocean-front property consists of fairgrounds, a race track and a nearby horse park.

A "letter of interest" is not legally binding; it is simply the first step towards serious consideration of the actual purchasing of the property.

The governor has proposed that the state of California sell the fairgrounds in addition to several other properties around the state to help resolve the state's current budget problems. The property is valued between 400 million and 700 million dollars.