the nagel family owns the city golf course property
Diamond Mountain Golf Course Just a Huge Exploited "Game" With Public Money
LCT reporter gets it wrong. City of Susanville has owned the golf course since the Nagel tax deal in 1968 (see "March 9, 2010" below). The City of Susanville has signed management contracts over the years that have been disasters.
CITY MANAGERS NOT TELLING THE TRUTH ABOUT THE GOLF COURSE
A few "rich guys" want the city to subsidize their golf
Susanville pays $154,000 and receives $19,000
YOU DO THE MATH........
The first parcel sold from the Golf Course was to pay off Frank Cady's loan at Plumas Bank. Susanville City Officials allowed Frank Cady to use public lands for collateral on a personal loan. Cady defaulted on the loan and the City sold a parcel to pay the balance of the loan. Now they are using excuses to sell off another parcel because the City Officials have no idea what they are doing. TURN IT INTO A PARK WITH AN INDOOR RECREATION CENTER..............
The Nagel family still owns
the Susanville Golf Course
Public records indicate that on April 28, 1968 the Nagels created a corporation, Lost Meadows Golf and Recreation Club, Inc. for the property now referred to as Susanville's public golf course.( This corporation was only needed temporarily and according to State records no longer exits. The Nagels created a Trust to handle future deals)
On September 3, 1968, the City of Susanville passed Resolution 68-1023 that essentially was an agreement to purchase land from this corporation.
On September 4, 1968, it was made to appear that Fred Nagels parents gave the City of Susanville the property now known as the Susanville City public golf course, simply not true.
In the fine print, if Susanville wanted to use the property for anything other than a golf course, the property reverted back to the Nagels. Every time any property was sold off for residential reasons, the City would have to buy it from the Nagels.
Not a bad deal for the Nagels. The City is exempt from any taxation. The Nagels don't pay any taxes on the property while it is in the City's name. These "land deals" have been going on since 1968.
It gets better......May 30, 2006, Frank Cady (LMUD's General Manager) [Keep in mind that Fred Nagel is on the LMUD Board] files for change of ownership in the corporation managing the golf course, Sickles Golf Associates, Inc. (SGA was formed May, 24, 1999) . Presently, Frank Cady's SGA is a post office box at the UPS store in Susanville.
Cady then takes out a loan of $1.4 million dollars for improvements to the golf course. Plumas Bank and the City of Susanville both approve Cady's use of the golf course as collateral for his loan.
April 2007, one year later, Frank Cady suddenly defaults on his "million dollar" loan. NO ONE in the City of Susanville or Plumas Bank wants to know what Cady did with the money. NO ONE goes after Frank Cady's assets to pay back his loan. WHY?
The Susanville City Council works out a deal with Plumas Bank to settle Frank Cady's loan for approximately $300,000 (public money). A trickle down scandal that left the City without a City Manager (Luanne Rainey) and City Attorney (Kathleen Lazard).
The Golf course now has its "Back Nine". Surprise: the value, of this new addition, is significantly increased and if the City wanted to create any new parcels to sell, the process starts all over again......they have to buy it from the Nagels first.
It gets better and bette
On March 3, 2010 the City approves Resolution 10-4614
A "deal" has been made with the Nagels
Fred Nagels buddy, Kurt Bonham, abstains from voting on this resolution but "signs off" on this Deal
Bonham continues to fulfill his usefulness to the Nagels and the Cady's
The public will never know how much went into "whose" pockets
Bonham may have been promised the County "Auditor" position for his role in this....whadaya think?