money

Faring / Carson Goose Option and Land Payments for Carson Place

2020-12-17 2020-present Ongoing agreement structure documented in public records
At a glance

Carson public records document the financial terms tied to Faring Capital's option agreement, later assigned to Carson Goose Owner, LLC, for Cells 3, 4, and 5 of the former Cal-Compact landfill. Carson's audited FY2023-24 report describes a $45 million residual land value, including a $12.5 million initial payment received in January 2021 and a remaining $32.5 million payment subject to agreement conditions. Separate staff records document remediation/O&M and extension-related payment obligations.

Open primary source → Browse 5 sources ↓
Public-private land option / redevelopment payment structure Audited City financial report plus direct Carson Reclamation Authority and City staff records
What the record shows

Key facts

Amount
$45 million residual land value
Address
20400 S. Main Street, Carson, California
Financial context
Direct option, residual land value, remediation, operating/maintenance, and extension-payment relationship between the Faring-originated Carson Goose project entity and the Carson Reclamation Authority.
Documented amounts
$45 million residual land value · $12.5 million initial payment received January 2021 · $32.5 million remaining payment described in audited records · $300,000 extension/dry-utility planning payment · Approximately $3 million annual O&M reimbursement obligation described in 2022 staff report · $250,000 monthly O&M cap described in 2022 staff report
Original Option Date
2020-12-17
Assignment Date
2021-01-15
Residual Land Value
45000000
Initial Payment
12500000
Remaining Payment Described
32500000
Extension Payment
300000
Oom Reimbursement Reported Annual Approx
3000000
Oom Monthly Cap
250000
Evidence

Sources

City Of Carson Audited ACFR 2023 2024 Final Open source → LegislationDetail Open source → LegislationDetail Open source → LegislationDetail Open source → 4b Open source →
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Linked records

Direct links named in this record: people, organizations, properties, projects, events and other canonical archive records.

People
Jason Illoulian
Organizations
FaringCarson Goose Owner, LLC
Properties
Carson Place / former Cal-Compact landfill Cells 3, 4, and 5
Projects
Carson PlaceDistrict at South BayCarson Country Mart
Developers
FaringCarson Goose Owner, LLC
More context

Related records

Ranked by documented overlap such as a shared project, property, person, organization, event, relationship, or an explicit link between records.

relationship

Jason Illoulian / Faring — West Hollywood Civic, Campaign, Land-Use, and Transaction Network

Public records, buyer disclosures, and filing-based reporting document a recurring West Hollywood institutional and real-estate network around Jason Illoulian and Faring …

Development / land-use counsel / campaign finance / civic participation / real-estate transactionsLand-use entitlementLobbyingCampaign finance
Shared person: Jason Illoulian · Shared organization: Faring
Open record →
property

Robertson Lane

West Hollywood development assemblage associated with Faring and Robertson Court, LLC, spanning Robertson Boulevard, La Peer Drive, and Santa Monica Boulevard parcels. Ea…

Mixed-useHospitalityOfficeRetail
Shared person: Jason Illoulian · Shared organization: Faring
Open record →
Archive indexing

Record tags

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Context note

The listed amounts describe different components and stages of the same public-private agreement and must not be added together as if they were separate purchase prices. The $45 million figure is described by Carson's audited report as residual land value; $12.5 million was received initially and $32.5 million was described as remaining subject to agreement conditions. O&M and extension payments are separate contractual obligations. This is not characterized as debt financing unless a source expressly documents a loan or mortgage.

People
Jason IlloulianBrendan Kotler
Organizations
FaringFaring Capital, LLCCarson Goose Owner, LLCCarson Reclamation AuthorityCity of Carson
Properties
Carson Place / former Cal-Compact landfill Cells 3, 4, and 5
Projects
Carson PlaceDistrict at South BayCarson Country Mart
Relationships
Faring Capital — original option counterpartyCarson Goose Owner — assignee and project entityCarson Reclamation Authority — public land/remediation/payment counterparty
Financial entities
Carson Reclamation Authority
Developers
FaringCarson Goose Owner, LLC
Categories
Land paymentOption agreementPublic-private redevelopmentRemediation obligation
Themes
Public-private redevelopmentLand transferLandfill remediationOption agreementOperating and maintenance obligations
Money context
Carson Goose Owner → Carson Reclamation Authority — $45 million residual land value structureCarson Goose Owner → Carson Reclamation Authority — O&M reimbursement obligationsCarson Goose Owner → Carson Reclamation Authority — $300,000 extension/dry-utility planning payment
Addresses
20400 S. Main Street, Carson, CA
Amounts
$45 million residual land value$12.5 million initial payment received January 2021$32.5 million remaining payment described in audited records$300,000 extension/dry-utility planning paymentApproximately $3 million annual O&M reimbursement obligation described in 2022 staff report$250,000 monthly O&M cap described in 2022 staff report
Aliases
Carson Place option paymentsCarson Goose residual land valueFaring Carson landfill option