SoccerCity signature-gatherers are all over town telling people that the Qualcomm development deal will add a stadium for San Diego State University and bring a Major League Soccer team to San Diego.
The team of private investors behind the deal have been constantly hitting the news and social media with their message. They say San Diegans can be assured there will be no public subsidies. They are telling us it will create tens of thousands of jobs and bring in an estimated $2.8 billion. Residents are being asked to come up with the names for the soccer team.
These are bright and shiny baubles being waved in front of us right now. But just like any good magician, as one hand draws attention to the shiny objects, the other hand is manipulating the part of the trick that no-one is supposed to see.
The actual language of the SoccerCity ballot initiative is very long and dull, so people might be tempted to take these private investors at their word.
I did read the initiative, though, and to me the text does raise some concerns.
There is the promise that no public monies will be permitted in the deal.
We Stand Up for You. Will You Stand Up for Us?
Theresa Quiroz has provided important cautions about this complicated proposal. Most disturbing to me is the "giveaway" aspect. If the 166 acres is worth perhaps $500 million, then giving it to the promoters would be a massive subsidy.
Good article ! This was what I was afraid of - another scam in the making. Best to vote NO on anything having to do with the City....
Stanton hits this nail on the head. But of course, making better deals is just what savvy "cut-throat businessmen" (crooks) are supposed to do. You could even be president.
And as for why it happens to city leaders in San Diego over and again: must be because our politicians are more honest (like rubes) than those "businessmen". Or perhaps just not as smart.
Why does San Diego so often seem like a rube at a carnival in these matters? It seems sometimes we will fall for anything.
The Qualcomm site is a very valuable piece of real estate. The soccer city investor group is a glib and sophisticated group of hustling con men. They are trying to steal this city asset. Don't be fooled by their self invented, self serving deadlines and gauzy promises. These guys want to steal this asset from the city. Their low ball offer is grossly inadequate.
Valuable information for us, Theresa. Thank you for reading that long, tedious document and interpreting key elements for us.