- Associated Press - Tuesday, January 27, 2015

SAN DIEGO (AP) - The city of San Diego is buying an 18-story high-rise next to City Hall where more than 800 municipal employees work.

U-T San Diego reports (https://bit.ly/1uwkOMI ) the City Council voted Monday to approve the $91 million lease-to-own deal for Civic Center Plaza.

Officials say estimates show the city would save $24 million in rent over the course of the 20-year agreement.

But the city’s independent budget analyst, Andrea Tevlin, and others raised questions about those estimates, saying it’s difficult to quantify those savings.

Cybele Thompson, the city’s real estate assets director, says the deal would also give San Diego control of a downtown block that’s ripe for long-term redevelopment.


Information from: U-T San Diego, https://www.utsandiego.com

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