Costa Mesa approves OC Fairgrounds lease

COSTA MESA, Calif. The deal allows Facilities Management West to run the fair and other events on the property for 55 years.

Facilities Management West owes the city $96 million loan for the property.

California's Department of General Services agreed in June to sell the fairgrounds to Costa Mesa. Since there was a third party involved, state legislation was needed to see the deal through.

The state began taking new bids for the property Tuesday after seeing no sign that state lawmakers would pass that legislation before the current session ends next week.

The Associated Press contributed to this report.

Copyright © 2019 KABC-TV. All Rights Reserved.