In December of 2019, the Anaheim City Council agreed to sell Angel Stadium and its surrounding land to SRB Management, which is owned by Los Angeles Angels owner Arte Moreno.
This sale meant that SRB Management would pay $150 million and another sum of $170 million to the city of Anaheim that would be used to provide affordable housing to the community.
However, there have been some large hiccups between the sale of the land and the Anaheim City Council.
But according to Bill Shaikin of the L.A. Times, there is a plan in place to resolve outstanding issues with Moreno and the city that would involve building even more housing:
The city had agreed to provide Angels owner Arte Moreno and his development company with $124 million in credits to include 466 units of affordable housing within a neighborhood to be built on the Angel Stadium parking lots. In order to resolve the city’s violation of the state affordable housing law, the city, state and Moreno agreed to use $96 million of that money toward the construction of about 1,000 units of affordable housing elsewhere 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, but the City Council is ready to keep the Angels in Anaheim for much longer if the deal is worked out:
The Anaheim City Council is expected to ratify the agreement Tuesday, after which the city and state plan to submit it to a court for final approval. That approval would allow Moreno and the city to clear the final hurdle in implementing a three-year-old deal to keep the Angels in Anaheim through at least 2050 and generate tax revenue for the city by turning the largely vacant 150-acre site into a village of homes, shops, restaurants, offices and hotels.
The end result would be somewhat of a mini-city surrounding Angel Stadium, which would be an interesting concept, to say the least.
Plans could move quickly if ratified
If the plan is officially ratified, the development on the land could begin fairly soon as the city pushes for more affordable housing:
The $96 million must be used within five years. In a news conference Monday, Anaheim Mayor Harry Sidhu and California Atty. Gen. Rob Bonta hailed the agreement as a path toward building more housing in less time.
It would be both a benefit for the team and the citizens of Anaheim, so hopefully, the sides can get any issues worked out soon.
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