The governing board that runs the fairgrounds agreed to pay back a loan — along with fees and interest — it received despite allegations of being ineligible
The association that owns and operates the Del Mar Fairgrounds has agreed to pay $5.5 million to settle allegations that it received funds from a pandemic-related loan program even though it was not eligible.
The U.S. Attorney’s Office argued the association — which is comprised of a nine-member board, all appointed by the governor of California — is government-owned and therefore not eligible to receive a PPP loan. In a statement, the association’s board of directors said its members believe the program’s definition of a state institution was “ill-defined” but called the repayment an “amicable settlement.”
Numbers provided by the 22nd DAA show that the organization had just north of $1 million on hand in May 2020, in comparison to nearly $40 million it had as of the end of August this year. As a result of the revenue losses, the association laid off approximately 85% of its staff.
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