As the deadline for SunCal to purchase Point Molate for $45 million came and went on May 21, 2022, the giddy Richmond Progressive Alliance and its alter ego, the Point Molate Alliance, continue to gloat over their perceived victory, the celebration of which may, however, be premature.
I understand that by the end of the day yesterday, SunCal (Winehaven Legacy LLC) may have deposited $45 million in escrow for the purchase of Point Molate and may also have satisfied the other conditions of sale, including a funding plan for infrastructure and a guarantee to pay for the first phase of infrastructure. Since it was five days before the deadline, the action by the City Council on May 17 to pronounce the SunCal purchase deceased may have been premature.
At the same time, I understand that Upstream and the Guidiville Band of the Pomo Indians (The Tribe) are prepared to exercise their option to purchase Point Molate for $400 tomorrow, May 23, 2022.
Who actually owns Point Molate when we wake up on Monday morning may be murky, at best.
Monday will be an interesting day, especially for lawyers who may be spending years figuring this out. One thing for sure, Point Molate has not been sold to the East Bay Regional Parks District, the Trust for Public Land, or any other entity bent on making the whole place a park.
The Point Molate Alliance Facebook page reported yesterday:
East Bay Regional Parks is ready to step in and help make this into a world-class park for the people of Richmond and California. We're going to try and reach a settlement with the remaining developer to buy them out so Point Molate Park can become a reality.
Meanwhile, the beleaguered City of Richmond treasury will have to start diverting millions of dollars intended for things like libraries, potholes, law enforcement and homelessness to Point Molate litigation, maintenance and security. This is what your RPA City Council majority has done