A developer’s loss is the Guidiville Rancheria’s gain, as the Northern California tribe may buy prime Bay Area land along the shore for $400—not $400 million.
A multi-year attempt by a developer to purchase Richmond’s Point Molate from the city has fallen through. This makes 270 acres available for the tribe to pick up for $400.
It is land where the tribe once sought to build a mega-casino. What the tribe will do with it now it has not said.
The Richmond City Council voted 4-2 against selling the land to Winehaven Legacy LLC for $45 million. Winehaven had wanted to build mixed residential and commercial development. Council members voting against said they were not convinced that the developer had the funding to proceed.
The Rancheria once proposed a mega-casino for the property. After the city council in 2011 voted against the project the tribe sued. A federal settlement upheld the council’s action but required that the city evenly split the profits from selling the land with the tribe. So by not accepting the Winehaven project, the city loses $22.5 million it would have gotten if it had approved of the transfer.
The upshot is that the tribe can acquire the 270 acres for $400. It will have five years to decide what to do with the land. It could even try to persuade the council to back another casino project.
