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The city of San Diego is closing in on a deal to sell the Mission Valley stadium site to San Diego State University. The only problem: They can’t seem to agree on a price.
A recent appraisal valued the land at $68.2 million after you subtract the estimated $18 million cost of constructing a river park and demolishing the old stadium. SDSU argues that the land cannot be developed to its full potential without building the park, so the sales price should reflect the lower amount.
Last year, however, voters approved Measure G, which said the cost of the park could not fall on the city’s general fund — and by extension on the taxpayers. The city wants the university to purchase the land and pay for the cost of both demolishing the old stadium and building a river park.
On this week’s San Diego Explained, Voice of San Diego’s Scott Lewis and NBC 7’s Catherine Garcia break down the dispute over the Mission Valley deal.