LAKEPORT, Calif. – Months of work to negotiate a final lease for the use of the Lucerne Hotel as a college campus came to an official, and happy, conclusion on Tuesday morning.

In a unanimous and enthusiastic vote, the Board of Supervisors approved the final lease for the building with Southern California-based Marymount College.

The 75,000 square foot building, erected in the late 1920s, and its seven-acre property will serve as Marymount College's third campus.

The college's board of directors approved the lease at its Oct. 13 meeting.

Earlier this year, both the board and college approved a memorandum of understanding as a prelude to completing the 15-year lease, with the college receiving a $1-a-year least rate for the first five years.

For the remainder of the lease, the college must pay annual rent equal to 50 percent of Marymount’s net annual revenue generated at the premises, which shall not be less than $85,000 nor more than $250,000 per year.

The county is offering to let the college purchase the building any any point during the lease term; if Marymount purchases the hotel before June 30, 2018, the cost is $2.5 million plus an amount equal to the renovation costs incurred by the county from this past Jan. 1 forward. The purchase price goes up 5 percent annually beginning July 1, 2018.

Interim County Administrative Officer Matt Perry told the board on Tuesday morning that the work of negotiating the final lease over the past few months has been a team effort.

“This is a significant event,” Perry said.

He called the work with Marymount College a “transformational” project in terms of the potential benefits to the local economy and the new educational offerings for the community.

Significant renovations have been made to the building and are continuing, with Perry explaining that there is still a lot to do.

He thanked members of the Lucerne Hotel Education Task Force, which helped guide the vision for the building, and also thanked college President Dr. Michael Brophy for his vision in partnering with the county.

Perry also recognized the vision of retired County Administrative Officer Kelly Cox, whose passion for the building and financial acumen helped make the project with the college possible.

“This is such a huge milestone for us it's unbelievable,” said Supervisor Jeff Smith.

Smith said he was glad to be on the board at this time, and wanted to acknowledge people who had ideas for the building at the beginning.

“My thanks to everyone involved,” Smith said.

Supervisor Denise Rushing, whose district includes Lucerne, thanked the Board of Supervisors for its vision and the approval of the original memorandum of understanding.

She also thanked the Lucerne Hotel Education Task Force, whose members included Wilda Shock, Barbara Johnson, Melissa Fulton and Lake County Superintendent of Schools Wally Holbrook, who had as part of their original vision using the building for educational purposes.

Rushing said the campus will be transformational for Lucerne and all of Lake County, and urged people to consider Marymount College as a place to finish their degrees.

Supervisor Jim Comstock commended the work by staff and the college. “Well done.”

Board Chair Rob Brown said it was a proud moment for the board, and one that he recognized took a lot of work.

“It's going to have a long lasting ripple effect that’s very positive for the county,” Brown said.

Supervisor Anthony Farrington said there have been people who have questioned the county's property acquisitions, but the board had a vision. “We stuck to that vision, despite the criticisms we received.”

Farrington called the college lease “a game changer” for Lake County, and one that was very personal for him. He grew up in Lake County and had to leave in order to get a four-year degree.

Marymount's presence will offer educational options for future generations of local residents and others coming to the county, Farrington said.

He also thanked Dr. Brophy. “I look forward to the partnership.”

Rushing thanked county administrative staffers including Perry, Eric Seely, Debra Sommerfield, Alan Flora and County Counsel Anita Grant for their work on finalizing the lease.

Rushing then moved to approve the lease, which Comstock seconded.

The board voted 5-0, receiving a round of applause from the audience.

Email Elizabeth Larson at This email address is being protected from spambots. You need JavaScript enabled to view it. . Follow her on Twitter, @ERLarson, or Lake County News, @LakeCoNews.