Santa Anita Park owner Frank Stronach is coming to town this weekend to meet with local horsemen to talk about the state of the sport. He'll also meet with an engineer to discuss the pros and cons of a proposed new racing surface consisting of dirt, sand, and a small amount of fiber. He says it is a very safe surface. The question remains, who will foot the bill for it, since Stronach's Magna Entertainment Corporation (MEC) filed for Chapter 11 bankruptcy last year.
Last year it seemed Santa Anita Park might be sold in a bankruptcy auction, but it appears owner Frank Stronach will keep an interest in the track. Under a deal arranged by Stronach's bankrupt Magna Entertainment Corp. (MEC) and its creditors in a Delaware bankruptcy court, ownership of the track would be transferred to MI Development, a real estate holding company controlled by Stronach. If a judge accepts the plan, Stronach would also retain ownership of Golden Gate Fields in the Bay Area, and Gulfstream Park in Florida. Also, it sets up developer Rick Caruso to proceed with building the Shops at Santa Anita mall that is proposed for the track's parking lot.
Developer Rick Caruso and officials of Santa Anita Park met to discuss reviving The Shops at Santa Anita, a proposed upscale retail mall project. MI Developments (MID) had cancelled a 2005 contract with Caruso Affiliated to build the mall after bankruptcy restructuring at Santa Anita Park. Both parties hope to move forward with the mall.
Magna Entertainment Corp., owner of Santa Anita Park race track, which is in bankruptcy reorganization hearings, filed a plan that would cancel its 2005 agreement with Rick Caruso to develop the 830,000 square feet Shops at Santa Anita on the race track's south parking lot. Caruso filed an objection to the move in bankruptcy court, citing "substantial economic harm" to Santa Anita Associates, LLC, the legal entity that was going to develop the project. Santa Anita LLC has so far invested over $25 million to the project's development. Caruso is committed to developing the project in Arcadia. If the contract is indeed terminated between the parties, Magna would have to start from scratch with new plans, new environmental impact reports, and new hearings to propose another development.
Santa Anita Park's ownership changed hands on April 30 after Frank Stronach's Magna Entertainment Corp. (MEC) transferred many of its assets to Stronach's MI Developments (MID) (one of MEC's creditors), as part of a bankruptcy restructuring plan. Last week MI Developments, a real estate operating company, canceled its 2005 agreement with Caruso Affiliated to develop to the proposed mall known as The Shops at Santa Anita, but this week MI Developments hopes to work out a deal with developer Rick Caruso to build an upscale retail project in the track's parking lot.
Santa Anita Park owner Frank Stronach met with about a dozen horse trainers to discuss the track's racing surface. Stronach announced that he would not replace the synthetic Pro-Ride track yet, but will stick with it until he gets the ability to run the track with less state regulations. He wants free enterprise, which he may never get. In the meantime, drainage problems and injuries persist on the synthetic track. Stronach said he'd be back in April to discuss the issue more.
Arcadia seeks residents to serve on newly formed Citizen's Financial Advisory Committee to help review City's long-term financial forecast, provide recommendations to City Council for revenue enhancements and cost containment.
City to release first round of education campaign on Arcadia real estate rules and local zoning code in a forthcoming City newsletter. The campaign will include public meetings in November and an advisory committee comprised of Arcadia residents.
The Oak Tree Racing Association lost its lease to operate its fall horse racing meet at Santa Anita Park. Oak Tree has operated a fall meet at the track since 1969. Due to bankruptcy restructuring, Frank Stronach's company MI Developments took control of Santa Anita Park from Stronach's Magna Entertainment Corp (MEC). MI Developments wants to negotiate a new lease agreement with Oak Tree for fall racing.
Results of the primary election are discussed. Residents voted overwhelmingly in favor of Proposition B, the advisory measure concerning low rent housing for senior citizens.
Camp Santa Anita Ordnance Training Center, at Santa Anita Park, from 1942-1945, is featured in a temporary exhibit at Gilb Museum of Arcadia Heritage, through March 30.
Food a big draw at 626 Night Market, the Asian-inspired festival at Santa Anita Park. It is in its fourth season of food, entertainment, art and shopping.
The California Horse Racing Board authorized Oak Tree Racing Association to have its traditional fall meet at another thoroughbred venue in Southern California since the association's use of Santa Anita Park is still uncertain. MI Developments, which is chaired by Frank Stronach, recently voided Oak Tree's contract after acquiring the race track from Stronach's Magna Entertainment Corp (MEC) through federal bankruptcy proceedings. Oak Tree's director Sherwood Chillingworth said, "If we can't make a deal with Santa Anita...we can take our dates and run them in Hollywood or Del Mar."
Actor George Takei, discusses social media, justice, and his family's internment, which started at Santa Anita Park in Arcadia. He spoke at Cal Poly Pomona.
Actor and activist George Takei, 75, famous for his portrayal of Sulu on television series Star Trek, will talk about gay rights and a childhood spent in internment camps at Santa Anita Park (assembly center), Tule Lake and Rohwer, Arkansas, during World War II. He will be speaking at Cal Poly Pomona on Tuesday.
Proposed redevelopment of the Santa Anita Inn, formerly Ramada Inn at 130 West Huntington Drive, Arcadia, won't take place until after the Olympics next August.
Arcadia City Council will be asked to determine whether they want to extend a "resolution of inducement for tax-exempt financing" for the proposed Ramada Inn (now Santa Anita Inn) project.
A special 8 page supplement offers a variety of articles on the Santa Anita Park track, its history, activities, facilities and its contributions to the community.
Fashion Park is more than a center of business activity. It sponsors various special events such as the Community Health Fair designed to entertain, educate and assist residents. The mall's sales and property taxes constitute a large portion of the city's revenues.