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Hollywood Park's future in jeopardy

Posted: Tuesday, December 09, 2008 8:39 PM

Benoit & Associates photo

by Frank Angst
 
Hollywood Park’s demise is outlined in a 244-page development plan at the Planning Commission for the city of Inglewood, California.

Like the heroes portrayed in movies made just a few miles away, Hollywood has escaped certain demise before. The current owner’s plan to develop mixed-use real estate on the site, however, continues to move forward.
 
Chris Jackson, a planner with the city of Inglewood, said ground could be broken on the project as early as the fourth quarter of 2009. Those plans include the end of racing, demolition of the one-million-square-foot grandstand and other racing structures, and construction of retail, office, and residential properties.

The mixed-use development calls for the 238-acre site to be transformed into a compact, walkable, mixed-use community where residents can live, shop, and enjoy recreation. The two current infield lakes would be relocated as part of a 25-acre park. The plan also could include a school, library, or community center.

The Hollywood Park Casino, which is not owned by the track, also will be demolished. It will be relocated on the project site, although its size will be reduced.

A first draft of the required environmental impact report has been completed. Public comment is being accepted before the final report is presented.

Hollywood is owned by Hollywood Park Land Co., a subsidiary of Bay Meadows Land Co. The current owner purchased Hollywood from Churchill Downs for $257.5-million in September 2005.

Churchill, which purchased Hollywood for $140-million six years earlier, used the money to pay down debt. The Hollywood Park Land Co. announced long-term plans to develop the site but said it would conduct racing until those plans became reality.

Fans of the track hope the sluggish economy derails development plans, or at least causes delays. The project plan addresses financing but offers little in terms of specifics. It calls for financing through assessment districts, the Mello-Roos Community Facilities Act, tax increment financing, and private financing.

“As Hollywood Park is built out, the precise method of financing shall be determined,” the plan said.

If financing issues delay the project, it would not be the first time the inaugural Breeders’ Cup World Championships host has dodged the wrecking ball.
 
A 1987 plan called for a stadium to be built on the property for the National Football League’s Oakland Raiders. Just last year, a California court ruled against the Raiders, who previously were based in Los Angeles, in a lawsuit that contended the NFL had sabotaged team efforts to relocate to the Hollywood property.

The Bay Meadows Land Co. has moved forward on developing the former Bay Meadows Race Course property in San Mateo.

Spokesman Adam Alberti said that project is on schedule and despite the struggling economy, he was not aware of any financing issues. Construction should begin in the spring or early summer.
“The facility has been razed and the site is being prepared for construction, which should begin after the rains,” Alberti said.

Current development plans at Hollywood have plenty of opponents.
 
At a meeting, resident Diane Sambrano noted the planned park would not benefit all Inglewood residents, only residents of the new development.

In a letter to the Inglewood Planning and Building Department, Thoroughbred owner Diane Becker said the track provides needed tax revenue for the city and state. She said demolition of the track founded in 1938 by Warner Brothers executive Jack Warner would result in job losses and the loss of a historic site.

“Hollywood Park is the crown jewel of your historic city and should be made a landmark to honor its singular value,” Becker said. “It is the pride and identity of Inglewood.”