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Developers present revised Alexander Valley resort plan; propose river park, housing mix and temporary TOT split to fund hotel launch
Summary
Developers previewed an updated plan for the 266‑acre Alexander Valley Resort (Esmeralda), including a reduced development footprint, a gifted eastern 'river park' designed for habitat restoration and aquifer recharge, an economic study projecting a $2.2M annual net fiscal surplus to Cloverdale, and a proposed 10‑year split of transient occupancy tax to help the hotel stabilize.
Developers behind the Alexander Valley Resort project gave Cloverdale officials and the planning commission a detailed design and fiscal preview on Nov. 12, saying the revised plan reduces the build footprint, preserves mature oak groves and will gift a large riverside park to the city.
At the meeting, Devin Zugel, a project lead, said the team intends the development to knit into Cloverdale through a trail network they call the “Esmeralda necklace,” connected bike lanes and shuttle service into downtown. “One of our big goals with this project is to make the neighborhood very walkable and bikeable,” Zugel said.
Michael Yarny, summarizing a draft fiscal and economic impact study by Kaiser Marston Associates, said the 266‑acre site currently produces about $80,000 a year in property tax but could be assessed at roughly $945 million at build‑out. He told the council the study estimates a net fiscal surplus to the city of about $2.2 million annually after accounting for added service costs, and said the resort hotel could generate…
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