The supposedly overriding reason for approving the Stadium Area Giveaway is the need to keep the Angels in Anaheim. Is this reason legitimate? No. Reasons why below the graphic.
(1) The Angels aren’t leaving. Unless the Council gives Moreno more time to renegotiate with someone else, he flat out doesn’t have the TIME to leave. Even if he did, leaving the area would mean leaving an extremely profitable cable TV contract. He won’t do it. And it’s not likely that any other city would have him, either — and it’s even more unlikely that he could get the sort of crazy good deal that he already had in the OLD lease, where the City has made about $1 million/year from parking, tickets, and outside events only when they exceed high threshold levels. Moreno is making lots of money off the lease even without baseball.
(2) But let’s say he did leave. Would another team love to move to Anaheim, with it’s fan base of 17 million or so people within reasonable driving range? Yes, they would. We’d have another team arrive easily.
(3) But let’s say no team came in. What then? Well, what could Anaheim do with such a parcel? Cynthia has already mentioned bringing in Broadcom, bringing in another university, etc. Anaheim would survive just fine. My plan might involve creating the world’s largest homeless shelter — although we’d have to put a dome over it — but I’m sure I’d be outvoted in favor of something more profitable. The funny thing is, though, that even such a mega homeless center would give the city more profit than it would get from this lease.
One wonders why the City Council seems intent on cutting off such a major prospective revenue stream. Do they have some interest in bankrupting the City? Anaheim as Detroit — is that the plan? Or is there no plan?
COME OUT AND TALK TO THE ANAHEIM CITY COUNCIL — NOW (OR LATER TONIGHT!)