If all goes as planned, San Jose will finally free itself from a huge drain of taxpayer money: the historic Hayes Mansion.
The city plans to sell the property—which consists of a hotel, conference center, the Silver Creek Restaurant and Palm Plaza Lounge—for $47 million. That should be be more than enough to cover the $36 million debt on the mansion, which the city bought for $2.5 million back in 1984.
The buyer, Asha Companies, owns several hotel properties throughout the U… (View original article)