San Diego Mayor Kevin Faulconer yesterday released appraisals that "boost the case for the SoccerCity proposal in Mission Valley" by valuing the land at $110M -- "much higher than most previous estimates," according to a front-page piece by David Garrick of the SAN DIEGO UNION-TRIBUNE. That would "make potential lease payments to the city for the Qualcomm Stadium site and nearby land much higher based on a recent agreement between Faulconer and SoccerCity developers" that lease payments would equal 10% of the land's value. Faulconer "hopes to use such information and other developments in coming days to secure the one vote on the council he needs to flip the 5-4 majority in favor" of a November special vote. The City Council on Monday approved a budget for the new fiscal year that eliminates $5M Faulconer had "proposed for a special election." While the vote was 8-1 in favor of the budget, three council members "expressed opposition to eliminating the special election money but didn't want to vote against the overall budget." Faulconer's Deputy Chief of Staff and Chief of Communications Matt Awbrey said that the mayor will "use his veto power this week to restore the special election money and attempt to make those two upcoming hearings serious discussions of the potential ballot measures." Awbrey also said that the appraisals of the Qualcomm Stadium site and nearby land "could shift the debate about SoccerCity and the financial benefits of the ambitious proposal." But Garrick notes the appraisals include $11.5M in demolition costs, $5M to level the terrain of the Qualcomm site and $115M for "site preparation." However, the appraisals "assume there is no contamination of the land, which could be an issue at the stadium site" (SAN DIEGO UNION-TRIBUNE, 6/7).
