LAKEPORT – The city-owned Vista Point Shopping Center will soon be offered for sale.
The Lakeport City Council approved a property parcel map at its Tuesday meeting, which was a necessary step before it can attempt to sell the land.
It's been a long time in the process, City Council members noted.
The council approved a parcel map last June said City Engineer Scott Harter. Later, however, the city discovered that the map didn't accurately reflect one of the property lines.
In a separate interview, acting City Manager Richard Knoll said the City Council wants to sell the property.
“The hope is really that the right party will acquire the property and be able to turn it around,” said Knoll, which would include fixing the buildings and conducting site improvements. That, he said, would hopefully “make it into much more of a performing property than it is now.”
Current tenants at the shopping center, located on Lakeport Boulevard, include Lake Family Resource Center and the bowling alley, Lakeside Lanes.
The county has to approve the parcel map, said Knoll, which he expects to see delivered to the county next week, after it's signed.
The city will send out letters and real estate bid forms to parties that have expressed interest in the property later this month, Knoll said. The deadline for bids to be submitted on the property will be 45 days from the date of the letter being mailed, he added.
The 9.10-acre parcel includes a strip mall shopping center with 113,288 square feet of floor area, according to the draft letter. The property is designated "Major Retail" according to the Lakeport General Plan.
The city is offering for sale both the land and a lease for the shopping center held by Meridian Investments of Oakland, according to the bid request letter. Twenty-one years remain on the lease, which has required the city be paid annually. The 2006-07 lease payment was $42,337.37, and increases by 5 percent in March of each year.
A March 2006 appraisal places the "as is" market value and minimum bid at $900,000, according to the city.
Knoll said he suggested to the City Council that they place the property online and solicit bids. The county has successfully used an online site, Bid4Assets.com, to sell tax forfeiture properties. However, Knoll said the council wants to go with a list of 13 individuals who have already expressed interest.
The individuals included on the property sale mailing list are Jim Burns of Fort Bragg, who also is creating a development proposal for the City of Lakeport Municipal Sewer District property; Barry Johnson of Superior Acquisitions, Redding, who owns Willopoint trailer park and was involved with the Outrageous Waters purchase; Gloria Flaherty, executive director of Lake Family Resource Center; Lakeport Planning Commissioner John Marino; Mark Mountanos of Lakeport and Ukiah; Realtor Kevin Bradley of Lakeport; Robert Adelman of Adelman Development Group, Lakeport; Matt Riveras of Windsor; James Chung of Terranomics Retail Services, Burlingame; Robert Nielsen of Ukiah; Luke Steely of Lakeport; Jon Snyder of Rancho Murieta; and Bradford F. Marks of Village Properties, San Francisco.
Anyone interested in receiving a bid form and letter can contact Knoll at 263-5615, Extension 25; or City Attorney Steve Brookes, 263-5616, Extension 27.
E-mail Elizabeth Larson at
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