From Daily Republic // Jan. 12, 2006
By Ian Thompson
SUISUN CITY - Suisun City's effort to sell its land on Twin Sisters got its final nod Tuesday night and is expected to close escrow today - with Jelly Belly head Herman Rowland getting the land and Suisun City getting $2.39 million.
"The council authorized us to close escrow," Interim Redevelopment Director Al daSilva said.
Councilmembers wrapped up the final details of the sale, which included allowing neighbors around the property access to the reservoir there for a year, giving them time to find another water source.
Suisun City put the land, which overlooks Suisun Valley, on the market two years ago as part of its efforts to raise money for its fiscally ailing general fund budget.
The council initially hoped to get as much as $5 million from the land, but that number dropped as talks with two earlier potential buyers fell apart.
The amount the city is getting is close to its assessed value and the market was just not there to get a higher price for the land.
"This will be a good infusion of capital that the city needs," daSilva said. Rowland will make payments during the next five years.
Reach Ian Thompson at 427-6976 or at firstname.lastname@example.org.