Diamond Bar, Chino Hills ask state to review Tres Hermanos ranch land sale to Industry, saying $42 million was too low – Orange County Register

Two cities opposed to the City of Industry’s purchase of 2,450 acres of ranch land on the edge of Los Angeles, San Bernardino and Orange counties have petitioned the state to block the $42 million sale, saying approval of the heavily discounted price amounts to a gift of public funds.

Chino Hills and Diamond Bar are asking the state Department of Finance to reject the sale, or at the very least begin a 60-day review to determine if the sale is legal, according to letters sent to the department by the two cities on Aug. 24 and Aug. 28, respectively.

By slashing the sales price by almost $60 million from the recommended price, the two cities argue they are being robbed of tax dollars that flow from the sale since the land is located within the two cities and outside the City of Industry.

The lowered price cost Diamond Bar $2 million, according to the city’s letter.

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