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Continued From Page Bi wrote the grand jury. Patty told The Register, “I will pay Anaheim $6 a foot for the 95 acres. I make that offer — $250,000 an acre versus $80,000 an acre. ’ Seymour said the rental and pur chase-option amounts were the re sults of negotiations with ASA to bring the Rams to Anaheim Stadium. The city's value figures for the land came from the appraisal and sale of 18.9 acres in late 1977 to David Hooks of Sunset Construction. An independent appraisal by Cedric White, a professional in the field, placed the value of the parcel at Orangewood Avenue and Rampart Street at $108,900 an acre. However, the city accepted bids for the land and Hooks made the high bid of $125,000. Seymour said the Hooks property was a good comparison sale “‘but this (95 acres) is different because the city will forever hold certain rights and easements over the land.” These include a requirement that ASA maintain 15,000 parking spaces for use by the city when the commer cial development on the property is not in operation, such as during eve ning sporting events or weekend rock concerts. Seymour added that in addition to the $8,000 per acre annual rent, the city will collect an annual tax per acre of $1,500 which will increase with inf lation based on the consumer price index. Additionally, the 95 acres will go back on the tax rolls upon their sale. As city property they now generate no tax revenue. Seymour also disputed Patty's claim that ASA has a free hand with the land for the 10 years of the pur chase-option period. As part of the agreement, ASA and the city must establish a timetable for devel opment. “If they (ASA) miss a deadline in the timetable then the deal is off,” Seymour said. “If they don't develop the property then there is no sale.” Seymour said the city did not get an appraisal of the property because there wasn't enough time. He es timated it would have taken about 30 days. But Patty produced a letter dated June 23 from City Manager William Talley to ASA officials saying final details were being worked out in the deal. The agreement was not signed until July 25, he noted. Patty has hired Warren K. Hoppke of Newport Beach for $3,000 to do an appraisal; he said Hoppke told him the appraisal would be ready in two weeks. Patty’s attorney, Roger Saevig of Orange, said it apparently is imposs ible to legally prevent the sale of bonds by such non-profit entities as Anaheim Stadium Inc. through the preliminary injunction process. But, Saevig said, he hopes that a court trial on issues raised by Patty
Newspaper Details
Santa Ana Orange County Register
Santa Ana, California, US
Wed, Aug 23, 1978
Page 4
Full Page
Clipped by
Alec W.
USA 09 Jun 2026
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