Monday, September 14, 2009

Will RDA thus Citizens be Left Holding the Bag?

Update from reader input:

If Staters buys 12 ac., that is pretty much Jacobsen's land. The city only owns the property infront of the Assisted Living Home, next to the canal.

If Stater's isn't bying all the land, what is the PLAN the Unified Develope it all at once Plan going to be?

Stater's isn't buying the Auto Zone, the Pit Stop or the former Mobile Home Park or Former Mayor's Land... are they? I don't think so..... Jack is buying dead center of the property... leaving the ends and the traffic problems to others to deal with...

000000000000000000000000000000000000000000000000000000000000000000

Jacobsen Family Holdings or what ever name Doug Jacobsen is operating under has received an offer from Jack Brown / Stater Brothers for 12ac of land to build the Mega Staters on. No one knows if the offer made was accepted.

Here is where it becomes our business or should be. Doug Jacobsen will be recovering some if not all his investment in the land he acquired with the aid of the Redevelopment Agency and City Council. He was aided by the City requiring land owners to sell to Doug Jacobesen and only Doug Jacobsen or face Eminent Domain. This was done during the Highest time of the Real Estate Market. But by limiting the possible buyers it was not a Free Market Sale for those forced by threat to sell.

Now that all that has been done... What about now. The deals were such that Doug Jacobsen purchases some of the land directly and other portions were paid for by the RDA who would later sell the land to Doug Jacobsen when he pulls all the property together. Well, what we have now is the RDA Land will not be developed and still on the Debt Load of the RDA and Citizens of Grand Terrace and Doug Jacobsen will sell his portion of the land to Stater Brothers.

IF Doug Jacobsen makes a single dime off the sale of the land it should be paid to offset the cost of the RDA Land Debt. The Jacobsen/Schwab partnership will continue to cost the City of Grand Terrace long after both of them have been replaced.

There is concern that the Placement of Stater Brothers provides a sufficient back lot as a buffer between the store and the Residential Housing along the South Portion of the property.

Staters is looking at the Core of the property,,, the area behind Miguel's... leaving the other ends of the property most of which if not all is RDA Land for "Future Development".