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TESTIMONY: Jason Hughes was a Partner -Not a Broker- in 101 Ash Building Deal – La Prensa San Diego
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Audit critical of City of San Diego s building acquisitions
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Former San Diego Mayor Kevin Faulconer and his staff withheld information from the City Council and misrepresented facts about multiple properties acquired by the city in public reports or presentations, an independent audit released Thursday concludes.
The study issued by the City Auditor’s Office also found that the Faulconer administration failed to conduct proper due diligence before entering real estate deals worth more than $230 million.
“The prior city administration diminished City Council’s oversight capabilities on major real estate acquisitions by failing to provide complete and accurate information,” the audit found.
The report included many recommendations to prevent future real estate acquisitions from being mishandled. Senior aides to Mayor Todd Gloria accepted many of those suggestions but rejected some proposals aimed at improving oversight.
Updated on July 22, 2021 at 11:52 pm
NBC Universal, Inc.
An audit of the city of San Diego s recent property acquisitions, including 101 Ash Street, found serious issues caused by missteps, lack of policies and oversight, and misrepresentation during acquisition proposals to its city council, according to the Office of the City Auditor (OCA).
The audit was brought on by questions surrounding building purchases since 2015 and whether they were in the city s best interest. The OCA said it wanted to find out if city administration followed protocol when making major purchases, and if sufficient building acquisition oversight mechanisms were in place.
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Gerard Guez, denim king, funds Faulconer’s future.
Faulconer’s China connection
Kevin Faulconer’s bid to become governor. Among them is
Gerard Guez, chairman of the board at Sunrise Brands of Vernon, who kicked in $5000 for Faulconer’s 2021 campaign committee on June 28. “Sunrise Brands has leveraged three decades of uncontested denim preeminence into becoming the most dynamic diversified apparel company in the United States,” says the company’s website. “Today, while Sunrise Brands remains a denim powerhouse, our product mix includes casual bottoms, knits, sweaters, sportswear, outerwear, bags and other lifestyle accessories.” According to an online Dun and Bradstreet profile, “Its products are made by third parties, primarily in China.”
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