As the Angels and the city of Anaheim discuss how the team might turn the land surrounding Angel Stadium into an entertainment destination, the city repeatedly has declined to disclose just how much it believes the land is worth. The public will find out on Wednesday, four weeks before the Angels face a deadline to opt out of their stadium lease or remain bound to it through 2029. With the city’s mayor insisting that the Angels pay fair-market rates to buy or lease any land, the appraisal is critical. In 2013, the city proposed leasing the land to Angels owner Arte Moreno for $1 per year. If the Angels were to leave, the appraiser was ordered to value the land as if the stadium would be demolished.

Source: Los Angeles Times December 04, 2019 04:52 UTC