The fate of the Orange County Fairgrounds remains locked up in legal proceedings, which leaves plenty of time to ponder that $100 million buying price. Leading off that discussion, it would be best to know the actual value of the land–a figure Dr. Steven Beazley and the OC Fair and Event Center should have considering it has contracted and paid not one, but two separate firms to determine.
Solorio: I am curious and interested if the Fair itself has conducted an appraisal in the past and what that appraisal figure was?Beazley: There was some investigation on what would a, the hard part is when we did our investigation there were no comparable sales of fairgrounds. So one of the challenges of ever coming up with any kind of appraisal is you have to go to other recreational sites like golf courses, parks, those types of things. So any appraisal would not be a one for one, what is the average acreage cost a fairgrounds would be sold for. It would be more recreational based, which would indeed make it less valid and if you were to have the sale of the Fairgrounds. We looked all over the country and couldn't find a sale of a fairgrounds that would be, and once you get geographically out of an area, you get challenged as well. So finding a comparable, I would say is almost impossible.