At the board of directors meeting on Tuesday, district officials unanimously approved the acquisition of the land located in the Orwood Track area just north of the Discovery Bay community.
"The park district's master plan is to acquire Delta access for public recreation purposes, so this action fits that goal perfectly,'' park district spokesman Ned MacKay says."The land will be preserved as open space for public recreation since the population is growing in that area."
The park district is purchasing the land from the Fallman Trust for $1.2 million. The trust leases the land year-to-year to a farming company. MacKay says that for the foreseeable future, the district would continue the lease and collect revenues on the crops until it can find a source of funds to operate and maintain the land as a public park.?
"We do not have sufficient funds to develop it right away,'' adds MacKay, who emphasized that it would be several years before the island property is transformed into a park.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
