Placer County invests in Tahoe City property, supporting key revitalization goals
The Placer County Board of Supervisors voted Tuesday to purchase the 10,654-square-foot Bechdolt Building property in Tahoe City, starting escrow on the purchase at a sale price of $4 million.
The purchase agreement consists of a title transfer for the multi-tenant commercial property, which also includes the adjacent road. The road will allow for increased access to key economic development and recreational opportunities within the town center such as the golf course and various redevelopment initiatives.
County ownership of the property will increase public access opportunities in the area, which includes public areas, revitalization projects and potentially 35 or more parking spots. Per the Tahoe Basin Area Plan, this area is “intended to maintain and enhance the pedestrian and transit-oriented environment of retail, restaurants, services and tourist accommodation with easy access to the lake and recreational activities.” This purchase advances that plan.
Placer County will maintain current infrastructure and rental agreements with the existing commercial tenants. There is currently open storefront space where Plumas Bank used to be located that is zoned for offices, single and multi-family dwellings, food and beverage retail, general merchandise sales and recreational uses.
The funding for the property purchase comes from the county general fund. The property can also be sold in the future for redevelopment purposes.
With the board’s approval, there will be a 30-day closing period.