Title
Body
MEMORANDUM
TO: Board of Supervisors
FROM: Carol J. Huchingson, County Administrative Officer
DATE: July 24, 2018
SUBJECT: Consideration of Resolution Declaring the Board of Supervisors Intent to Sell Property, Not Required for Public Use, Known as The Lucerne Hotel, Located at 3700 Country Club Drive, Lucerne, California (APN's 034-182-030 & 040, and 034-867-010 Through 070), Pursuant to Government Code Section 25520 Et Seq.
EXECUTIVE SUMMARY:
In 2010, the Lake County Redevelopment Agency acquired the property known as the Lucerne Hotel located at 3700 Country Club Drive, Lucerne. The property was purchased for its potential to fulfill the grand vision identified in the Northshore Redevelopment Plan. The goals included preventing and eliminating blight, developing a conference/event center in the north shore area, and providing an economic engine for Lucerne.
As your Board recalls, on December 19, 2017 staff was directed to issue an RFP to solicit proposals with the following options 1) Purchase 2) Purchase through a lease to purchase agreement 3) long-term lease agreement not less than 15 years. Following the RFP process on June 26, 2018 your Board gave consideration and approval of a proposal to purchase the Lucerne Hotel. Staff was directed to prepare the documents to declare the property as surplus to the needs of the County and list for sale.
Staff recommends listing the Lucerne Hotel property for sale at $3,000,000 with a minimum bid of $2,500,000. The value of the property has been determined by a professional appraisal. Per Government Code Section 25526 Et Seq. staff recommends August 14, 2018 as the date for opening the sealed bids and accepting oral bids. Your Board reserves the right to accept or reject any and all bids.
Earnest money, in the amount of 4% will be required to be deposited in an escrow account by the winning bidder by 2:00 P.M. on the date of the bid opening. The earnest money deposit will be refundable onl...
Click here for full text