SDSU STATEMENT IN RESPONSE TO INQUIRIES ON FS INVESTORS STADIUM PLAN

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East County News Service

February 20, 2017 (San Diego) - A plan is in place to turn the Mission Valley property where Qualcomm Stadium and its parking lot into a multi-use facility for the Aztecs and possibly a Major League Soccer team.

FS Inventors made public on Monday their plan for "SoccerCity."  The site would include 4,800 homes, two stadiums, parks and commercial space.

San Diego State University has issued the following statement in response to inquiries on the plan:

"We have reviewed the renderings and descriptions presented by FS Investors and we wish to clarify two critical issues: First, given the proposed density of development in the stadium area, there is no prospect for future expansion to 40,000 seats. Second, while the proposed gift of stadium ownership may convey tax advantages to FS Investors, it conveys no revenue or rights of ownership normally associated with a gift. We look forward to working with the Mayor, the City Council and the San Diego community to construct a mixed-use stadium that will serve the needs of SDSU's top 25-football program."


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