Silver Oak Golf Course owner Garth Richards has taken steps to buy the struggling Empire Ranch Golf Course, according to documents submitted this week to the Carson City Assessor's Office.
GSR Investments, a company connected with Richards, owner of Silver Oak Golf Course, has bought the deed of trust to the struggling 27-hole Empire Ranch Golf Course and has paid outstanding taxes owed to the city.
The 221-acre golf course at 1875 Fair Way off of Highway 50 East, was developed by Carson City realtor Dwight Millard and had been in bankruptcy up until March. It features 27 holes, a driving range, clubhouse, pro shop and Mallards Restaurant.
The golf course was appraised in February of this year at $1,675,000, according to a document provided by the Carson City Manager's Office.
About $199,000 in outstanding taxes, including water bills owed to the city, were paid Wednesday by the new trustee, according to records obtained from the Carson City Assessor's Office.
Earlier this year, the Carson City Board of Supervisors had discussed buying the golf course because it is used to dispose effluent water from its water treatment facility.
The Deed of Trust was recorded at the request of Northern Nevada Title on June 18, 2014 and filed through the Carson City Recorder.
Carson City Manager Nick Marano, when contacted Friday, said the taxes paid and the deed change would be good for the city.
If the owner of Silver Oak buys Empire Ranch, it may give the city an opportunity to renegotiate contracts for effluent water disposal, said Carson City Supervisor Karen Abowd.
The following statement is from Sandra Page Millard:
Empire Ranch Golf Course LLC is operating the golf course. The course is open for business and has never been in better condition.
No formal notice regarding the purchase of the note or payment of the taxes has been received. Empire Ranch Golf Course, LLC will be in touch with their legal counsel once they are officially notified of the purchase of the note and payment of the taxes. It is our understanding that Empire Ranch Golf Course LLC always has the option of paying off the mortgage and securing their title and interest.
At this time Carson City has a problem to solve due to the lack of sufficient effluent water to service all the golf courses and City parks, in part due to the favorable contract with Empire Ranch Golf Course. The recent City appraisal shows the value of the golf course at $1.6 million as a golf course and $3.6 million if used for effluent disposal. The city’s purchase of Empire Ranch Golf Course has been discussed as a viable option to solve the City’s problem.
This is a developing story. More details are forthcoming.