money

Faring / Carson Goose Option and Land Payments for Carson Place

2020-12-172020-presentOngoing agreement structure documented in public records

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.

Public-private land option / redevelopment payment structureAudited City financial report plus direct Carson Reclamation Authority and City staff records

Record Details

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

People

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Money Relationships

Financial Entities

Developers

Categories

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Addresses

Address

Financial Relationship

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.

Amount

$45 million residual land value

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

Record Notes

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.

Source URLs

Related Records

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