San Diego's Financial Trouble Hidden For Stadium Deal

Consultants find that city officials held back a glaring report detailing the city's failing finances to clear the way for municipal bond sales for a new downtown baseball stadium.

1 minute read

October 26, 2006, 6:00 AM PDT

By vtboy99


"In a hurry to get shovels back at work on the Padres' new ballpark, San Diego officials buried a heap of bad financial news that would have imperiled the project in 2002.

A report that year on city finances by politically connected San Diegans was toned down and delayed – until 13 days after the city's ballpark bond offering closed – for fear that 'disclosure of the truth would derail' the sale."

"Petco Park cost $474 million to build, with the Padres paying $173.2 million. The remaining $300.8 million was funded by the city and the Centre City Development Corp., San Diego's downtown redevelopment arm."

Monday, August 14, 2006 in The San Diego Union-Tribune

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Cover CM Credits, Earn Certificates, Push Your Career Forward

Logo for Planetizen Federal Action Tracker with black and white image of U.S. Capitol with water ripple overlay.

Planetizen Federal Action Tracker

A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

June 11, 2025 - Diana Ionescu

Rendering of Shirley Chisholm Village four-story housing development with person biking in front.

San Francisco's School District Spent $105M To Build Affordable Housing for Teachers — And That's Just the Beginning

SFUSD joins a growing list of school districts using their land holdings to address housing affordability challenges faced by their own employees.

June 8, 2025 - Fast Company

Yellow single-seat Japanese electric vehicle drivign down road.

The Tiny, Adorable $7,000 Car Turning Japan Onto EVs

The single seat Mibot charges from a regular plug as quickly as an iPad, and is about half the price of an average EV.

June 6, 2025 - PC Magazine

Rendering of autonomous cargo train moving across bridge across river in wooded area between Texas and Mexico.

Trump Approves Futuristic Automated Texas-Mexico Cargo Corridor

The project could remove tens of thousands of commercial trucks from roadways.

June 17 - FreightWaves

Rendering of white three-story single-stair building in Austin, Texas with staircase in the middle.

Austin's First Single Stair Apartment Building is Officially Underway

Eliminating the requirement for two staircases in multi-story residential buildings lets developers use smaller lots and more flexible designs to create denser housing.

June 17 - Building Design & Construction

MARTA bus with Atlanta skyline in background

Atlanta Bus System Redesign Will Nearly Triple Access

MARTA's Next Gen Bus Network will retool over 100 bus routes, expand frequent service.

June 17 - Mass Transit