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Costa Mesa approves OC Fairgrounds lease

August 24, 2010 12:00:00 AM PDT
The Costa Mesa City Council approved plans Tuesday to lease the Orange County Fairgrounds to a real estate management firm if lawmakers pass legislation allowing the city to purchase the state-owned property.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.