Board OKs Funding Agreement for Tahoe City Golf Course Deal
March 14, 2012
The Placer County Board of Supervisors approved a comprehensive funding plan Tuesday that will allow the Tahoe City Public Utility District to proceed with its purchase of the Tahoe City Golf Course.
Board members voted unanimously to approve a $2,495,000 contribution from Transient Occupancy Tax (TOT) revenue collected in the North Lake Tahoe area, as recommended by the North Lake Tahoe Resort Association.
|Aerial view of the Tahoe City Golf Course and Lake Tahoe.|
The TCPUD has taken the lead on the golf course acquisition and has committed $1,405,000 to the purchase, but did so with the intention of creating a funding partnership that would include Placer County, the Resort Association, and Truckee Tahoe Airport District.
The golf course is located adjacent to the north side of the downtown business corridor in the heart of Tahoe City. The site includes five parcels that cover approximately 45 acres, making it the largest land holding in Tahoe City.
At the board’s Feb. 28 meeting, officials from the TCPUD and Resort Association described acquisition of the golf course as a once-in-a-lifetime opportunity for Tahoe City.
At Tuesday’s meeting, the board approved a memorandum of understanding that lays out plans for using the property as a golf course for at least the next five years and a planning process for determining long-term uses of the 45-acre property. The property serves as an open-space buffer adjacent to the community’s downtown area. The vast majority of the property is a stream environment with little development potential, but high value as an open space and recreation corridor. The community visioning and planning process will dovetail with efforts to update the county’s Tahoe Basin community plan and the Tahoe Regional Planning Agency’s regional plan.
During Tuesday’s meeting, board members also directed county staff to initiate a TOT Infrastructure Allocation process to ensure funding availability for the county-priority Kings Beach Commercial Core Improvement Project, in light of the significant allocation toward the purchase of the golf course from the same fund. A recommendation regarding that allocation will return to the board for approval no later than April 10.
The TOT Infrastructure Fund is funded with TOT revenue Placer County collects at North Lake Tahoe and distributes based on input from the Resort Association for transportation and infrastructure projects, tourism marketing and visitor information services.
TOT is a surcharge paid by people who rent rooms in hotels, motels and other lodging establishments. Under the association’s TOT agreement with the county, infrastructure expenditures must be approved by the Board of Supervisors.
The TCPUD reached an agreement in November to purchase the golf course for $5 million and has negotiated a $4.7 million final sales price with the family that currently owns the course. Escrow is scheduled to close in early April.
In addition to its value as open space and active recreation in the summer, winter recreation such as ice skating, cross-country skiing and snowmobiling could also be considered.
Four to six acres around the existing clubhouse have development potential for such possible uses as a visitor center, performing arts facility, recreation center or boutique hotel.