LAKEPORT — The joy and optimism were palpable Tuesday morning as the Lake County supervisors approved a lease agreement with Southern California-based Marymount College to create a rural campus at the Lucerne Hotel.
“This is such a huge milestone for us. It”s just unbelievable,” District 2 Supervisor Jeff Smith said. “Let”s see this become the real jewel that we knew it would be when we first purchased the property.”
The unanimous vote by the Lake County Board of Supervisors came 10 days after the college”s board of trustees signed off on the deal.
“We are eager to begin our partnership,” Marymount College president Michael Brophy said in a statement Tuesday. “We will be developing curriculum and programs that serve the needs of students and the community in Lake County. After meeting with many in the community, we know we can serve many of the area”s higher education needs.”
The county-owned hotel, commonly known as “The Castle,” was acquired by the former redevelopment agency in 2010. The facility, featuring 50,000 square feet on seven acres, first opened in 1928.
Marymount College, based in Rancho Palos Verdes, proposes to turn the historic building into campus offering courses for a four-year degree. It would be the only such facility in the county.
“It will be transformational for the community of Lucerne, but it will be transformational for all of Lake County,” supervisor Denise Rushing, in whose district the hotel sits, said.
The 15-year lease begins July 1. Marymount College will pay $1 rent annually for the first five years.
Beginning July 1, 2018, the school”s yearly rent will equal 50 percent of its net annual revenue generated at the Lucerne Hotel — the amount cannot be less than $85,000 nor more than $250,000 per year.
Marymount College will have the option to buy the hotel during the lease term.
If purchased by June 30, 2018, the price would be $2.5 million plus renovation costs incurred by the county after Dec. 31, 2011. The purchase price would increase by 5 percent annually starting July 1, 2018.
The county must complete some renovations, including four classrooms initially (and a fifth by January 2014), a student-learning center, administration office and common areas.
As its use increases, the college will be responsible for refurbishing the hotel to provide dorm rooms, faculty residences and offices, laundry facilities, computer labs, a server room, kitchen, recreational spaces and other common areas.
Marymount College can sublease parts of the hotel to educational entities or other groups to boost the education programs. It can also rent areas on a daily basis for private events that do not have commercial or political purposes.
The county can use the hotel twice a year for official government meetings or county-sponsored community events, through June 2018.
Both parties must consent to terminate the agreement during the first five years. Subsequently, either could end the lease after giving one-year advance notice.
Jeremy Walsh is a staff reporter for Lake County Publishing. Reach him at 263-5636, ext. 37 or jwalsh@record-bee.com. Follow him on Twitter, @JeremyDWalsh. Join the conversation, #LakeBOS.
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