Fairgrounds officially for sale

The Orange County Fairgrounds is officially up for sale. A nonprofit group made up of county fair board members and local politicians said Thursday it will try to buy the land.

The state of California has announced it would formally begin accepting bids on the 150-acre site and event center in Costa Mesa this week.

The deadline for potential buyers to submit bids for the fairgrounds is Jan. 8, and the new owner would take control of the site by Oct. 1.

State officials hope that unloading the fairgrounds site will help California plug a multibillion-dollar budget deficit.

The state has estimated the land could fetch $96 million to $180 million. The California Assembly voted to put the property up for sale in July, as the state teetered on the brink of insolvency.

There is no minimum bid for the site, said Eric Lamoureux, a spokesman for the California Department of General Services.

“Our biggest concern is to let the market decide what the best financial return for the state of California will be,” Lamoureux said. “The governor has made it clear that he wants us to sell off high-value assets, so it is important to look and determine what is in the best interest of the state.”

The fairgrounds are designated in Costa Mesa for recreational use, so any potential buyer would have to have the area rezoned if they have other plans for the land.

A buyer also would have to agree to share a portion of the profits with the state if they decide to use the land for another purpose, Lamoureux said.

The fair board and the Board of Supervisors have both passed resolutions supporting the idea of selling the land to a nonprofit agency or a local government.

Members of the fair board and other local politicians have formed the Orange County Fair and Event Center Foundation in an attempt to purchase the land. The group finalized its nonprofit status Wednesday.

“The Orange County Fair is such a crown jewel, and it has so much to offer, we’d like to see it remain a fair for many years to come,” said Kristina Dodge, chairwoman of the foundation.

“We have no ulterior motives but to see it as it has been. That’s our hope.”

The group plans to submit a bid for the property later this year, she said.

Dodge on Thursday said that she could not yet disclose where funds for the foundation to purchase the fairgrounds would come from.

The newly formed foundation consists of six board members now, but the group will later add two board members appointed by the city of Costa Mesa and two appointed by the county. The 10 board members will then select a member of the public to serve as the board’s 11th member.