Gov. Arnold Schwarzenegger wants to sell several landmark state properties, including the Del Mar Fairgrounds, to raise about $1billion dollars, according to a published report.
Among the other landmarks being considering are Cow Palace near San Francisco and San Quentin State Prison, the San Diego Union-Tribune reported
The Governor is scheduled to release two versions of his budget proposal for the coming fiscal year, and both will show California in a deep fiscal hole. He says the state will face a $15.4 billion deficit starting July 1, a little more than four months after he signed a budget designed to eliminate the state's red ink.
The shortfall will grow by about $6 billion if voters reject three of five budget-related measures on Tuesday's special election ballot. His proposals will account for different outcomes from the election.
A recession that has left California with an unemployment rate exceeding 11 percent is largely to blame for the growing deficit, creating a steep drop in tax revenue.
The governor has hinted that teacher layoffs and cuts to the state workforce are ahead.
