Daily Business Report — Jan. 24, 2012
Mayor Opposes U-T San Diego Stadium Proposal
City News Service
Mayor Jerry Sanders said Monday he opposes U-T San Diego’s proposal for a new Chargers stadium and expanded convention center. In a two-page editorial in Sunday’s edition, the newspaper laid out a concept on a far grander scale than what was previously put forth by the city — to put the stadium on Port of San Diego property near the 10th Avenue Marine Terminal, make the convention center even bigger than what is planned now and add an indoor sports arena. The $1.5 billion construction cost would be funded by a combination of increased hotel room taxes, selling the Qualcomm Stadium and Valley View Casino Center properties, bond sales, naming rights and advertising, according to the newspaper. The Chargers and NFL are set to chip-in around $200 million each in either the current plan or the new proposal. The new home for the city’s NFL franchise and the expanded convention center are currently separate projects, with the stadium set to fit into a lot in the East Village. Sanders has expressed support for the stadium being part of a wider entertainment district, but not the way it was proposed Sunday. “The city is ready to move forward now on a realistic plan to create thousands of jobs, protect our convention business and increase revenues for neighborhood services,” Sanders said in a statement to City News Service. “We have to address these important priorities in a responsible way.” A financing plan on the current stadium is nearly finished, according to the mayor. He also said that locating the facility on port property would take too long because there would be too many battles to fight. John Lynch, chief executive officer of U-T San Diego, said the newspaper’s proposal was not meant to be divisive, but there are too many concerns with the city’s plans.
Law Firm Aids Animal Rescue Organization
Baja Animal Sanctuary, a nonprofit organization in northern Baja California, has regained its tax-exempt status through the efforts of Kristina Hancock, senior counsel for the law firm of Luce, Forward, Hamilton & Scripps. Because of provisions added to the Internal Revenue Code in 2006, Baja Animal Sanctuary was one of 275,000 nonprofits in the country that received notice that their federal tax-exempt status had been revoked. Hancock and attorneys from Luce Forward devoted pro bono work to re-establish its tax-exempt status. The San Diego Foundation made it possible for the organization to receive an income stream from one of its funds while the law firm worked on the reinstatement. According to Luce Forward, Baja Animal Sanctuary, an animal rescue organization, is the only no-kill shelter of its kind in the region and has been rescuing animals from the streets of Mexico for more than a decade, providing them with food, medical care, and a safe home for the rest of their lives. Over the past decade, the Sanctuary has rescued more than 12,000 animals and it currently houses more than 400 dogs and cats who are awaiting adoption.
Plaza Del Mar Sells for $34 Million
Plaza Del Mar, a 117,000-square-foot office development in Del Mar Heights, has been purchased for $34 million by Cruzan | Monroe, a San Diego-based commercial real estate firm. The seller was Plaza Holdings Inc. and KDH U.S. Realty Holdings. Plaza Del Mar is located at 12520 and 12526 High Bluff Drive just south of Del Mar Heights Road. The project is currently 73 percent leased. In the transaction, Cruzan│Monroe was represented by Cushman & Wakefield’s Eric A. Northbrook, Christopher High, Michael Roberts and Steve Rowland.
Scripps Health Opens Emergency and Trauma Center
Scripps Health has opened the new Conrad Prebys Emergency & Trauma Center to treat patients at Scripps Mercy Hospital San Diego. The new centeris named in honor of Conrad Prebys, a San Diego developer and philanthropist who donated $10 million to support Scripps Mercy Hospital San Diego’s emergency department and trauma services in 2006. The gift remains the largest donation to the hospital in its 121-year history. It marked Prebys’ first donation to Scripps, which was followed in 2011 with a $45 million donation to build the Scripps Prebys Cardiovascular Institute on the campus of Scripps Memorial Hospital La Jolla. The center opened on Jan. 19 and features private patient rooms, a department-dedicated CT scanner adjacent to the trauma room, a telemetry system to provide continuous wireless monitoring capabilities within the emergency department and a laboratory to quickly provide test results. The next phase of the project will be the renovation and reopening of the existing emergency department. Upon completion in 2013, Scripps Mercy Hospital San Diego will have a 27,000-square-foot, 49-bed emergency and trauma center.
Faulconer to Speak at CCDC Event
Councilman Kevin Faulconer will be guest speaker at the next Downtown Sound Bites on Feb. 7 at 12:15 p.m. at the Sheila R. Hardin Downtown Information Center at Horton Plaza. Faulconer, president pro tem of the San Diego City Council, will reflect on his tenure as Downtown’s representative and his last year representing the area, which was moved to District 3 as a result of redistricting. The event is sponsored by the Centre City Development Corp. and admission is free.
Convention Center to Provide Free Wi-Fi Service
The San Diego Convention Center will provide free Wi-Fi service at its ground-level lobby areas beginning Feb. 1. The new free service provides guests attending events the ability to check email or surf the web in the lobby areas outside of the exhibit floor. Smart City Networks, which has offices and staff at the center, is providing the service.
Dawn Cauthen Elected Partner at Procopio Firm
Dawn Hall Cauthen has been elected a partner at Procopio, Cory, Hargreaves & Savitch. Cauthen focuses her practice on the areas of estate planning, trust administration, probate, estate tax and gift tax matters. She received her bachelor’s degree from Bethel College and her law degree from California Western School of Law. She is currently serving as chapter president of the Lawyers Club and holds leadership positions in several other community organizations.
Tana Cleaves Joins Mutual of Omaha Bank in San Diego
Tana L. Cleaves has been appointed vice president and manager of trust administration for Mutual of Omaha Bank in San Diego. Based out of the bank’s Torrey Hills location at 3580 Carmel Mountain Road, Cleaves will work with high net worth clients in San Diego. She has more than 25 years of experience in the field. Cleaves earned her bachelor’s degree from California State University. She also is a graduate of the Trust School at Pepperdine University.
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