San Diego State leaders have publicly "proposed purchase terms for 132 acres of Mission Valley land," formalizing its intent to pay $68.2M for the stadium site while also "providing millions more in community benefits," according to Jennifer Van Grove of the SAN DIEGO UNION-TRIBUNE. SDSU said that the initial offer "represents a package deal" that is worth more than $150M. The offer "does not address the city’s biggest concern: That the terms, particularly the purchase price, may be inconsistent with a voter-approved initiative." Still, it "symbolizes an important turning point in a lengthy land-sale process that has until recently been governed by a strict confidentiality agreement." The city and the university have been "actively negotiating sale terms in private for the better part of a year." However, last week’s public release of an independently prepared site appraisal, which pegs the '17 land value at $68.2M, has "changed the nature of discussions going forward." SDSU has since "pulled out of the agreement that mandated deal secrecy, and the city has agreed to host purchase and sale discussions in front of council members going forward" (SAN DIEGO UNION-TRIBUNE, 10/15).
