Conservancy Asset Land at 833 Emerald Bay Road Available for Sale & Development
The California Tahoe Conservancy (Conservancy) has released a Request for Proposals (RFP) for the purchase and development of 833 Emerald Bay Road, South Lake Tahoe, California. Located on Highway 89 in the “Town Center Gateway District” of the City of South Lake Tahoe’s Tahoe Valley Area Plan, this 0.51-acre parcel is Class 7 developable land. Conservancy staff will offer a property tour on the site from 1 to 2 P.M. on December 3, 2018. Proposals are due February 1, 2019. View the full RFP.
The California Tahoe Conservancy seeks a development partner with whom to enter into an Exclusive Negotiation Agreement regarding the potential purchase of the Conservancy’s Asset Land at 833 Emerald Bay Road, South Lake Tahoe, California, and development of a project consistent with the Conservancy’s Project Requirements. The Conservancy’s Asset Land at 833 Emerald Bay Road serves to help implement a sustainable community development project consistent with the Tahoe Regional Planning Agency’s (TRPA) Regional Plan and the City of South Lake Tahoe’s Tahoe Valley Area Plan.
The Conservancy Board approved the Project Requirements after community input, and any project at 833 Emerald Bay Road must meet all the Project Requirements. According to the Project Requirements, the property purchase and development at 833 Emerald Bay Road must include:
A. Housing component, including one of the following:
a. Deed-restricted affordable, moderate income or achievable housing as defined in the TRPA Code of Ordinances, Chapter 90 (changes adopted by the TRPA Board in October 2018), also consistent with the City’s General Plan Housing Element.
b. Workforce housing agreements with local employers;
B. Mixed-use commercial component;
C. Publicly accessible open space, plaza areas, trails, and sidewalks with conservation easements in favor of the Conservancy;
D. Bicycle and transit-friendly components; and
E. Highest feasible Leadership in Energy and Environmental Design rating for all structures and Energy Star Labels for all appliances/hardware and the highest feasible level of compliance with California Executive Order B-12-18.
The Conservancy intends to select a development partner with whom to enter into an Exclusive Negotiation Agreement (Attachment 3 to the RFP includes this agreement template and the full, final Project Requirements). Once the exclusive negotiating period is successfully completed, Conservancy staff will cooperate as necessary with the development partner to obtain all project permits and complete all required environmental reviews (at the cost of the developer). After the development partner obtains all required permits and completes environmental review, Conservancy staff will present a proposed disposition agreement to the Conservancy Board (Board) for review and potential approval. After Board approval, Conservancy staff will enter into a disposition agreement with the development partner to sell the property. The disposition agreement will include provisions requiring financial assurances to ensure project construction. (Specific provisions of the Disposition Agreement to be developed during the Exclusive Negotiation period.)