Governor wants to sell L.A. Coliseum, San Quentin [Updated]
Gov. Arnold Schwarzenegger wants to sell the Los Angeles Memorial 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.
More details coming.
[Updated at 5:45 p.m.: 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.]
Photo: Gov. Arnold Schwarzenegger, seen in a 2007 photo, wants to sell the Los Angeles Memorial Coliseum and other state property in a bid to raise cash. Credit: David McNew / Getty Images