Del Mar City Council may buy Fairgrounds

The Del Mar City Council may want to buy the Del Mar Fairground from the state if it goes up for sale as proposed by Gov. Arnold Schwarzenegger, it was reported Tuesday.

The council voted unanimously Monday night to send Schwarzenegger a “letter of interest’’ for the 400-acre coastal property, which includes fairgrounds, a racetrack and a nearby horse park, The San Diego Union-Tribune reported.

Del Mar Mayor Crystal Crawford and Councilman Carl Hilliard suggested the idea, according to the newspaper.

A “letter of interest’’ is not binding but it sets in motion a public discussion and would allow City Manager Karen Brust to approach financing consultants about the feasibility of the deal, the Union-Tribune reported.

Schwarzenegger proposed the state sell the fairgrounds and other properties to help fix California’s massive budget problems. Estimated cost for the fairgrounds have ranged from $400 million to $700 million.