REPORT TO COUNCIL
SUBJECT
Title
Action to Delegate Authority to the City Manager to Execute a First Amendment to the Agreement for the Purchase and Sale of Property with Feather River Land Trust for the Loyalton Property to Extend Escrow
Report
COUNCIL PILLAR
Deliver and Enhance High Quality Efficient Services and Infrastructure
BACKGROUND
The City of Santa Clara (City) owns and maintains approximately 10,270 rural acres of undeveloped land (Property or Loyalton Property) in Lassen and Sierra Counties near the California-Nevada border. More specifically, the Property is located in northeastern California, about 30 miles north of Truckee, CA, 110 miles northeast of Sacramento, CA, and about 20 miles northwest of Reno, NV. The Property is commonly referred to as the Loyalton Ranch Property.
On July 9, 2024, the City Council authorized the City Manager to execute a Purchase and Sale Agreement (Agreement) with Feather River Land Trust (Trust) for the Loyalton Property in the amount of $6 million and on the terms presented and to take any necessary actions to implement and administer the Agreement, including execution of a grant deed and an assignment agreement.
DISCUSSION
The City and the Trust executed an Agreement for Purchase and Sale of Property dated July 18, 2024 ("Agreement"), for the Trust's purchase of the Loyalton Property from the City. The Agreement has a closing date 10 months after the agreement execution date. As authorized under the agreement, the City and Trust agreed to extend the term by another 120 days until September 16, 2025, to allow the Trust to obtain approvals from the California Department of Fish and Wildlife (CDFW), which is providing funding for this purchase. Throughout this period, the Trust has been working with CDFW and requested that the City extend the closing date by another five (5) months in order to accommodate the Wildlife Conservation Board, which will likely vote on the funding at its November 20, 2025, meeting. ...
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