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Board approves option agreement reserving TAUs for proposed 39 North redevelopment in Kings Beach; public raises transparency concerns
Summary
Supervisors voted to approve an option agreement that would reserve tourist accommodation units and a potential TOT rebate for the proposed 39 North Kings Beach project. The action does not approve the project and requires CEQA and final developer commitments before TAUs or rebates can be exercised.
The Placer County Board of Supervisors on June 24 approved a tourist accommodation unit (TAU) transfer and rebate option agreement for the proposed 39 North development in Kings Beach, a mixed‑use lodging and residential proposal by Kingsbarn Capital and development partners. The vote was 5–0. The board’s action places a reservation on a defined number of TAUs and sets terms for a future TAU loan and potential TOT rebate, but does not approve the project’s design, permits or environmental review.
What the option does — and what it does not: The option agreement reserves TAUs and defines a potential structure for a future TAU loan and TOT rebate tied to the project’s performance. The agreement explicitly states the board is not approving the underlying project and that CEQA or other required environmental clearances and…
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