CITY OF SANTEE PRESS CONFERENCE ON
LAS COLINAS JAIL FISCAL STUDY
July 17, 2007, 11:00 a.m. 

LEADING ECONOMIST SAYS TAXPAYERS WILL
LOSE BIG MONEY ON SANTEE JAIL PLAN

County’s proposed site would have a $165 million negative fiscal impact

• The City of Santee held a press conference on July 17, 2007 to officially release an independent study showing dramatic fiscal impacts for taxpayers if the County of San Diego builds a new, expanded Las Colinas Detention Facility in the middle of the Santee Town Center.

• The study by well-known economist Gary London concludes that the expansion could have a negative impact exceeding $165 million and that the proposed jail project is not the “highest and best use” of the land.

• The report by London Group Realty Advisors concluded that sale and/or lease of the County’s 45-acre jail site in Santee Town Center land could yield approximately $1-2 million per acre as commercial property, providing the County with $89 million in immediate revenue.

• Additionally, the fiscal impacts of locating the 45-acre jail compound in Santee would devalue the County’s adjacent property holdings in Santee by up to $75 million. The study also noted that the Santee venue has been the only location considered by the County.

For further Information and to access the study, click below:

Las Colinas Fiscal Study by the London Group (39 pages)

Summary of Findings of the Las Colinas Fiscal Study (1 page)