Santa Anita REAlty Enterprises has poured more than $78,000 into the campaign to defeat Measure M, the Nov. 5 ballot measure to give voters veto power over the development of an entertainment complex near the company's race track.
The campaign over a controversial ballot measure to restrict development at Santa Anita Park race track is heating up, with two community groups coming out against the initiative and a new group being formed to support it. Measure M requires a majority vote of approval from Arcadia residents for any change in land use requested by Santa Anita.
A grass roots committee has been formed by a group of Arcadia citizens who are in favor of Proposition M. The Arcadians for Sensible Development are urging a "yes" vote.
Plan to consolidate elections debated. City Council and Board of Education informally discussing consolidating their elections, would require charter change.
Santa Anita Companies have submitted a down-scaled entertainment complex with the new proposal for developing the South parking lot of the Santa Anita Park race track property.
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.
Officials with the Santa Anita Companies, owners of the race track and Santa Anita Fashion Park, have filed a formal application with the City of Arcadia to build a new 100-acre entertainment center on its property.
Arcadia teachers and students unite for Measure A, the renewal of a parcel tax that helps provide stable school funding for Arcadias, on March 7 ballot. Previously approved in 2012, Measure A would authorize a "qualified special tax of $288 per parcel of taxable real estate property," an increase of $60 over the 2012 proposal. Citizen homeowners age 65 and over would be able to exempt their primary residence from the tax.
City Council voted 5-0 to place the controversial ballot measure to restrict development at Santa Anita Park race track before voters in the November presidential campaign.
The Arcadia City Council debated the question of whether Council and Board of Education elections should be combined and decided to study the issue in greater detail in the coming election.
Two bidders that had been attempting to take over Santa Anita Companies announced that they are joining forces. If the deal goes through, Koll Arcadia Investors and Colony Capital Inc., would own approximately 70% of Santa Anita's stock.
The Santa Anita Companies and AMC Theatres announced a definitive agreement for AMC to build a 25 screen multiplex adjacent to the Santa Anita Park race track and Fashion Park Mall.
The Arcadia City Council put off voting for a combined school and city election until it can determine whether the county, in that instance, would give up running the school election.
The Arcadia City Council voted to request an analysis of the initiative petition submitted by the citizens group Neighbors for Arcadia. The measure would keep the Santa Anita Park race track property zoned for horse racing unless Arcadia residents voted for a change.
Caruso and Westfield are still battling over the proposed Caruso lifestyle center. A decade ago the race track's south parking lot had been rezoned for commercial development. Rick Caruso feels his development will help Westfield while Westfield believes a new mall will cannibalize tenants and harm both companies and the city's sales tax revenues.
Newport Beach real estate developer Don Koll and Leon Black of New York-based Apollo Real Estate Advisors have made an unsolicited offer to invest approximately $180 million in Arcadia-based Santa Anita Cos.