Perhaps one of the hardest decisions a person can make is whether or not to sell something of sentimental value when the proceeds will surely fill a big gap in budget deficits. This is may just be the dilemma that California is facing. The sale of an iconic property to a real estate firm will address California’s budget woes but it has also raised the ire of some lawmakers and residents.

In an effort to fill the state’s budget deficit, some state-owned properties are being sold – one of them being the Orange County Fairgrounds. The fairground is being sold for $100 million to real estate firm Facilities Management West. Facilities Management will make an initial payment of $20 million for the 150-acre Costa Mesa property and will pay off the remaining amount in the next 35 years.

“This sale creates a new revenue stream to help shore up the state budget and prevent further cuts to programs or the need to raise taxes. We’ve truly earned the highest and most certain return for California taxpayers,” says Department of General Services acting director Ron Diedrich.

But the Orange County fair is an icon for the area as it has been hosted by the county since 1949. Being of historical and sentimental value, the sale of the fairgrounds has led Democratic Assemblyman Jose Solorio to make a statement about the fairground remaining a public property. He further says that a legislation he intends to introduce in December will block the transaction; and he says he expects strong bipartisan support for the said bill.

General Services originally intended for the property to raise between $96 million and $180 million but earlier bids only ranged $1,000 to $56 million. Because the offers were too low they were rejected by the state, which then decided to sell the land for $96 million to the city of Costa Mesa – the city will then lease the land to Facilities Management West to run events (including the annual fair) on the property. The deal, however, did not push through as the legislation needed to complete it was never passed.

Now that Facilities Management West is outright buying the fairgrounds, General Services does not know what the firm intends to do with the property. But Facilities Management spokesperson Guy Lemon pledges the firm will exercise sensitivity to the sentiments and suggestions of the community. He did not, however, provide details as to their plans regarding the property.

The Orange County Fairgrounds is just one of the high-profile properties up for sale. Others that were on the “for sale” list were the Los Angeles Memorial Coliseum and San Quentin State Prison in Marin County. Only the Costa Mesa property was approved by the legislature for sale.