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Ione council approves long-term lease of Castle Oaks Golf Course to SGM Sierra Golf Management
Summary
The Ione City Council authorized a long-term lease with SGM Sierra Golf Management for Castle Oaks Golf Course, including a 50‑year term (with a 50‑year option), a reduced early rent schedule and commitments for capital improvements and water payments. Jack Boyd recused himself from related closed-session matters.
The Ione City Council voted to approve and authorize execution of a lease agreement between the City of Ione and SGM Sierra Golf Management for Castle Oaks Golf Course.
Under the approved terms, SGM will lease the golf course lands, clubhouse and maintenance yard under a long-term lease with an initial 50‑year term and a 50‑year option to extend. Rent is set at $1 annually for the first 25 years, $25,000 for the following 25 years and $40,000 for the thereafter term. The operator committed $800,000 toward capital improvements, with $400,000 required within the first 10 years, and agreed to an annual water payment of $75,000 subject to adjustments every two years. The city retains a right of first refusal on the clubhouse and maintenance yard.
Why it matters: the lease moves Castle Oaks from city ownership and operation to a private…
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