In return, SRB Management agreed to pay $150 million in cash and another $170 million in community benefits to the city of Anaheim, which would be used to build affordable housing and a large public park.
However, in striking a deal to sell Angel Stadium and surrounding land to SRB Management, the Anaheim City Council was found to have violated the Surplus Land Act. The bill requires local government agencies that want to sell land to first offer it to affordable housing developers.
The city made several arguments for an exemption, but it was to no avail. Depending on how the council decides to proceed, the Angels could be in danger of relocating after their lease ends in 2029, via Alicia Robinson of the Southern California News Group:
“According to the state’s Wednesday letter, they could use an exemption to the Surplus Land Act that would mean designating 80% of the property for housing (it’s currently planned to include significant portions of commercial and office space) and set aside 40% of the total homes for lower-income families.
The letter also says the city could pursue another category of exemption by putting the stadium parcel out for bids and requiring at least 25% of any homes built to be affordable; or it could follow the provisions of the law by declaring the land surplus, notifying affordable home developers and entertaining in good faith any resulting proposals.
A fourth option would be to proceed with the current SRB Management deal, pay a fine if the state imposed one, and use that money to build affordable homes somewhere else in Anaheim.”
The Angels have played at Angel Stadium under their current lease since 1996, and it runs through 2029, with potential extensions that could bring it to 2038.
If the Anaheim City Council cancels its deal with SRB Management and sells the land to affordable housing developers, the Angels would be without a stadium in eight years.
On the flip side, if the two sides are able to amend their deal that satisfies requirements, the organization will call Anaheim its home for the foreseeable future.
Moreno could build new ballpark or renovate Angel Stadium
Under the current terms of the deal between the Anaheim City Council and SRB Management, space would be reserved for a new baseball stadium.
Moreno hypothetically could build a new ballpark for the Angels or approve renovations to their current home, Angel Stadium.