Selling off state real estate to help the budget?

Gov. Arnold Schwarzenegger wants to sell the Los Angeles Memorial Coliseum, San Quentin State Prison, the Orange County Fairgrounds and other state property to raise cash amid the state’s growing fiscal crisis, according to a copy of a proposal reviewed by The Times.Sale of the properties, to be included in the governor’s revised budget plan today, would raise between $600 million and $1 billion, although it would not provide financial relief for two to five years, according to the proposal. ‘There are thousands of buildings and land parcels throughout California that represent billions of dollars of equity,’ the plan says. ‘California’s current fiscal crisis has prompted new ways of thinking about how the state can unlock some of this value.’Other items on the list for potential disposal include Cal Expo, site of the state fair in Sacramento; the Del Mar Fairgrounds in San Diego County; the Cow Palace, a nearly 70-year-old exhibition hall in Daly City, bordering San Francisco; and the Ventura County Fairgrounds.It is not clear whether lawmakers would be willing to part with the real estate the governor has identified. Proposals to sell San Quentin and the Coliseum have not advanced in the Legislature in recent weeks.