Thursday, January 14, 2010

Fairgrounds Auction Webcast

THE TROOPS HAVE RALLIED
OK, folks, here we go. This is a photo fro
m the Fairgrounds early this morning... passions continue to run high. Love the positioning of the "Do Not Pass" sign! Folks were lining up for seats before 9 a.m.

HERE'S THE LINK TO THE WEBCAST

Here's the link again for the Department of General Services webcast for the auction of the Orange County Fair and Events Center today at 10 a.m. - http://www.dgs.ca.gov/webcast.

NOT ENOUGH SPACE FOR OBSERVERS
As you probably know, the venue is tiny and almost certainly will not accommodate the bidders (first priority) and the authorized media (second priority), much less spectators. Even though another room will be available at The Fairgrounds with the webcast being shown, that also will probably prove to be inadequate. The Costa Mesa City Council Chambers, right across Fair Drive, will be open at at 9:45 to provide a webcast viewing venue, too.


RUNNING COMMENTARY, MAYBE...

Today we're going to try something a little different. If all goes well I'm going to try to provide you with a running commentary as the auction proceeds. No guarantees, but we'll give it our best shot. So, refresh your browser often as you check back here for my view on this situation.

ANONYMOUS BIDDERS?

One of the interesting elements of the published format for this auction is that bidders, media and observers will not know the identity of the individual bidders. Each eligible bidder will be assigned a number as they enter the room today. The remainder of the transaction will be conducted using those numbers.


AND NOW, LIVE (VIA WEBCAST) FROM THE ORANGE COUNTY FAIR AND EVENTS CENTER...

10:05
and counting... still only the Great Seal and some music available on the webcast feed. There was a picture of chairs and an open mic a couple minutes ago... made for some interesting overheard conversations..

OK, my browser let me down, but my stringers are omnipresent. Here's the scoop on the bids:

Orange County/Costa Mesa bid $6.5 million
Aerie (Don Julien) bid $17 million
TelPhil (the Marketplace) bid $1,000. too funny!
Facilities Management West bid $55 million
Anaheim Sports Holdings bid $20 million (may be the Samueli family?)
Craig Realty Group bid $42.5 million
Ford & Mollrich bid $2 million (may be the Fair Board foundation)

The auction will begin shortly and, if my browser lets me view it, I'll report back.

10:24... High bid - $56.5 million by Craig Realty Group. Bidding Closed.

Here's the link to the Craig Realty Group. It looks to me like they plan to put an outlet mall right across the street from our City Hall! Left a message for their President, Steve Craig... don't really expect to hear from him.

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4 Comments:

Blogger Bruce Krochman said...

First off, bidder #7 is Forde and Mollrich. They are a campaign consulting and public relations firm in Irvine. They are a sub to the Great Park. That doesn't mean they were in any way representing anyone with an interest in the Great Park.

Second, Craig Realty looks like they would not just put a strip mall there, but an outlet center!

1/14/2010 11:24:00 AM  
Blogger The Pot Stirrer said...

Bruce, you are correct - as always. I think you left out the word, "necessarily", though.

This drama is going to be very interesting to watch now. The State could decide the high bid is insufficient and simply cancel the sale - that's within the authority of the top guy in the DGS.

1/14/2010 12:15:00 PM  
Blogger mesa verde madman said...

They'll run the fair for a few more years, then claim they aren't making any money and turn it into a giant outlet mall. Have you ever hit that one in Cabazon on a weekend? What a traffic nightmare that will be! Very, very sad day for Costa Mesa...maybe somehow it can be dragged out a few years via lawsuit, etc.

1/14/2010 12:25:00 PM  
Blogger Bruce Krochman said...

I could have accurately used "necessarily" in both cases! :)

56.5 million is absurdly low, but works in our favor. I did like the $1,000 bid though!

1/14/2010 12:31:00 PM  

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