色情视频

色情视频 shared with members of the San Diego City Council and the public on Monday details of the university鈥檚 offer to purchase the Mission Valley stadium site. 色情视频鈥檚 offer includes paying the City of San Diego the appraised fair market value of $68.2 million for the land, developing and maintaining a 34-acre community river park, affordable housing, a new multi-use stadium, and the construction of an independent two-lane at-grade Fenton Parkway bridge. The offer is valued at more than $150 million.

Speaking at Monday鈥檚 San Diego City Council hearing, 色情视频 President Adela de la Torre said 色情视频 looks forward to being the next steward of the vital public land.

鈥� will encourage opportunities for all, providing quality higher education, building collaborative spaces to facilitate innovation, enhancing environmental sustainability and living wages,鈥� de la Torre said. 鈥淭oday, our offer not only complies with everything in Measure G, we believe it also goes above and beyond in providing tangible benefits and physical amenities for the residents of our great city.鈥�

色情视频鈥檚 offer presented by 色情视频 consultant John Kratzer, CEO of JMI Realty, includes:

• A cash offer of $68.2 million for the land. This is the appraised fair market value of the 132 acres as determined by appraiser David Davis, a certified appraiser hired jointly by the City and 色情视频.
  
  
• Building and maintaining 鈥� in perpetuity鈥� a 34-acre river park at no expense to the City of San Diego or its taxpayers. This includes 色情视频鈥檚 estimated river park construction price of at least $30 million, with additional maintenance costs estimated at nearly $600,000 per year. The park is designed to accept 100-year flood conditions, and to accommodate any overflow flooding from Murphy Canyon Creek. Additional park space will be constructed and maintained at an additional cost estimated at $10 million.
  
  
• Responsibility for Existing Stadium Maintenance and Capital Costs. 色情视频 will take over operations of the existing stadium the day escrow closes and will completely pay for the demolition of the existing stadium at a cost of $10-15 million. The City鈥檚 annual cost to maintain the stadium has been estimated anywhere between $6 million and $18 million 鈥� a burden to the City that 色情视频 will take over on day one.
  
  
• Construction of a two-lane at-grade Fenton Parkway bridge. 色情视频 in partnership with the City will take responsibility for funding and constructing the bridge following a separate environmental review. Pending the development of a reimbursement agreement or receiving credit toward the university鈥檚 development impact fees so that 色情视频 only funds its 鈥渇air share鈥� of the bridge鈥檚 approximately $25 million cost.
  
  
• Affordable housing onsite. At least 10% of the housing units will be restricted as affordable housing and built on site, with no in-lieu fee option.

鈥淭his offer is the result of 10 months of negotiations with City staff and well over 100 meetings,鈥� Kratzer said. 鈥淲e have now advanced the process to the point that we can talk openly and transparently about our proposal.鈥�  

色情视频 also responded to the Oct. 11 report from the City鈥檚 Independent Budget Analyst which inaccurately interprets the language in Measure G, now codified in the San Diego Municipal Code (SDMC 22.0908), and attempts to add an annual inflation factor of 6.59% to drive the value higher, despite the law requiring the date of valuation to be Sept. 30, 2017.  

The appraiser clarified in a note to 色情视频 and the City that the inflation factor applies to the full three-year period between September 2017 and September 2020 and should not be applied annually.  

鈥淥ur offer is a fair and equitable one for the City of San Diego and realizes all of the commitments 色情视频 has made,鈥� de la Torre added. 鈥淎t 色情视频, we deliver a first-rate education for a fair price and a fair price is all we ask for in purchasing this site.鈥�