Two more landowners have signed letters of intent to sell their property to Morning View, LLC, according to the company's chairperson, Carissa Carpenter.
That makes a total of four adjoining landowners who have confidentially signed LOIs, Carpenter told Dixon Patch in a phone call Thursday evening. A few more landowners are needed to reach the 300-acre swath of land the company is looking for.
Morning View has plans to build a $2.8 billion film studio in Dixon. Read about it here.
"As soon as we have the 300 acres, then things shift," Carpenter said of the project's progress. "Right now it's kind of a funky shape; we need it contiguous."
The shape of the project's footprint will be determined by which landowners sign the letters of intent to sell. Once that's set, Carpenter says Morning View will launch its website, which will feature architectural plans, stories written by Dixon residents and more.
"The website's done," she said. "We need that last piece, and then we'll go forward."
All property owners are signing non-disclosure agreements, meaning we can't specify which of the property owners signed the letters of intent.
"It's something developers do when they're negotiating with several different property owners," Lindley said of the non-disclosure agreement when we spoke to him last month.
Note that a letter of intent is not a sale. The sale process would begin as soon as the 300-acres are accounted for, because that's the amount of land Morning View would need to begin construction.
"This is going to be one of the largest construction projects as far as cost goes in the United States," said Carpenter. "And one of the biggest producers of jobs."
City Manager Jim Lindley confirmed the letters of intent via email, saying, "It is my understanding that two additional LOIs have been executed."
The entertainment produced in the complex is an export as well domestic product bringing millions of dollars back into our community. The tax revenue will be used to heal our schools, public works and enrich our community. The Studio will have an Ag buffer surrounding it. It will continue to produce agricultural products. The crops will change in that buffer area… May not be Alfalfa or Wheat but it could be grapes, olives etc. I have read much about the studio and from what I can see it will integrate well within our community.
$2.8 Billion dollars project - and they can't cough up 1/28,000th of that amount to show their good faith. I wonder why. Well here's a clue - THEY HAVE NO MONEY! All you see out of these people is talk. They figure if they talk often and loud enough in the press - it might look real enough for real investors to take a look. Nothing about this passes the smell test. Anyone with a half a brain could figure this one out!
Morning View might not have any money because the LLC is a shell for the group of thirty entertainment producers. To protect their assets it makes sense that they would not “charge” the bank account until the money is needed for the purchases. Do you really think Robert Naylor a Stanford/Yale graduate would remain their legal counsel if this were the case? Do you believe that the City of Dixon would continue to entertain Morning View if your allegations were true? The last person to come on as strong as you proved to be from Vallejo, the town that failed to capture this business.
This has been the major delay since Jan 1st. Just because the total project is $2.8-Bil does not mean they have the investors willing to pay three or four times what the land is valued at. Sure, the land owner can ask it and the public can think MV does not have the money. Put investor's with half a brain are not willing to pay for times as much without even going through city approval! Cannot get the approve without buying the land - that is a huge risk to consider. It is very possible that just 20 acres could break this project. Perhaps that is what is happening, people don't want to sell or don't want a studio in Dixon so they jack up the price so it will not sell. Then it is just a matter of time until MV understands and moves on. This is in the hands of just a couple of people at this time. We will have to wait and see. Mike Smith
Is that an actual "confirmation"? When someone says "It is my understanding"??? It sounds like the City Manager is saying "I hear rumors two additional LOIs were signed". That's a LOT different than "I can confirm that I have copies of the two most recent LOIs". I still have my fingers crossed, but this deal still sounds fishy if you ask me. When the $100K hits the city's bank account, I'll be a believer. (Side note: It doesn't make sense that they announce their intentions before attempting to negotiate land purchases. In situations like this, to avoid having the land owners demand higher than market rates for the land, companies aquire the land under several fictitious business names. That way, one parent company can get the land they need without a few land owners holding out for huge prices. Disney is famous for such practices. It doesn't make sense the way they are doing this.)
Before you flash on me Gary, let it be known that I support the idea of the Studio. I will continue to hope for its success (as I continue to hope to win this weeks lottery).
I came away from my readings with the feeling that these projects are willing to pay a reasonable sum for the land but they do not want to entertain pirates or greed mongers. They need to be responsible and protect their investor’s assets. If this group had sent someone in to secretly buy the properties then they would be even more suspect. At this point I would say trust your local elected officials and paid management team to steer us in the right direction. They have thrown no flags…they seem to be all smiles and have issued no warnings. About the hold out property owners, let’s be reasonable, others before you with choice locations have accepted the terms. Settle with the studio and let’s move on and build a prosperous future for the town. The land in question was rezoned for residential more than ten years ago, you knew then that your days were numbered. The offers on the land have been greater than market value… This offer is far better than building more homes…this offer is for jobs in town for thousands of people. You would be better off selling now and then reinvesting in commercial lots and, becoming a more diversified landlord.