Measure G does not require that the purchase price be at fair market value.
“Such sale shall be at such price and upon such terms as the Council shall deem to be fair and equitable and in the public interest”
The City attorney confirms that Measure G does NOT require the land to be sold at fair market value
“Adding those words ‘at Fair Market Value’ is likely to mislead the voters.”
Measure G Developers even proposed deducting the cost of parks that they don’t buy or build in the initiative
“[T]he City may fairly consider various factors, adjustments, deductions, and equities, including, but not limited to: the costs for demolition, dismantling, and removal of the Existing Stadium; the costs associated with addressing current flooding concerns; the costs of existing contamination; the costs for revitalizing and restoring the adjacent River Park”