The agreement in which the city of Anaheim sold Angel Stadium and the surrounding parking lots to a company affiliated with Angels owner Arte Moreno “may be in violation” of state law, a state agency has warned the city.
No violation has been determined, and any such violation would not necessarily kill the deal.
Jose Moreno, one of two council members who voted against the sale, said he was “upset” that the city manager first informed the entire council of the news in an email after The Times broke the story Thursday.
In 2019, the city agreed to sell the property to Arte Moreno’s development company for a price later finalized at $320 million.
In 2020, the city agreed to lower the cash price to $150 million, with the remaining $170 million credited toward the inclusion of affordable housing and parkland within the development.
The property could have been worth as much as $500 million on the open market, according to a city-commissioned appraisal, with the stadium demolished and the land vacant.
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No violation has been determined, and any such violation would not necessarily kill the deal.
Jose Moreno, one of two council members who voted against the sale, said he was “upset” that the city manager first informed the entire council of the news in an email after The Times broke the story Thursday.
In 2019, the city agreed to sell the property to Arte Moreno’s development company for a price later finalized at $320 million.
In 2020, the city agreed to lower the cash price to $150 million, with the remaining $170 million credited toward the inclusion of affordable housing and parkland within the development.
The property could have been worth as much as $500 million on the open market, according to a city-commissioned appraisal, with the stadium demolished and the land vacant.
