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Monday, Sept. 4, 2006 | The city, the largest holder of real estate in the county, has a miserable record of managing its real estate assets, and Qualcomm Stadium is no exception. Let’s get rid of it and get the entire property on the tax rolls.
As the situation stands, we now have a football stadium, Qualcomm, which sits vacant most of the year. It’s a great venue to view sports, but internally it’s falling apart. The remainder of the site is very valuable, but generates little revenue. Why doesn’t the city sell the entire property? Not necessarily to the Chargers, but to the highest bidder, with stipulations as to its use and the building of a stadium acceptable to the NFL.
The fair market price would be a significant amount, and the money could be used to retire city debt. The county did this with their waste disposal site in North County some time ago.
There are lots of potential complications, and it will take some time, but it could be done if the motivation was there.