The City of Anaheim has settled its dispute with the state over proposed plans for the new Angel Stadium. At the heart of the matter was the city’s violation of an affordable housing law with relation to the city’s sale of the stadium.
The deal, originally approved in December 2019, had the city agreeing to sell the stadium and surrounding land to SRB Management, Angels owner Arte Moreno’s business partnership, in exchange for $150 million in cash and another $170 million in community benefits including affordable housing. The problem, according to the state, is that the deal would violate the Surplus Land Act, which requires local government agencies that want to sell land to first offer it to affordable housing developers.
City of Anaheim officials initially argued the deal was exempt from the law.
The L.A Times is now reporting that the city had agreed to provide Angels owner Arte Moreno and his development company with $124 million in credits to include 466 units of affordable housing within a neighborhood to be built on the Angel Stadium parking lot.
To resolve the city’s violation of the state affordable housing law, the city, state and Moreno agreed to use $96 million of that money toward the construction of about 1,000 units of affordable housing elsewhere in the city of Anaheim.
The Anaheim City Council is expected to ratify the agreement later today.