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Feather River Bulletin
Quincy, California
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November 10, 2010     Feather River Bulletin
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November 10, 2010
 

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Feather River Bulletin ' Wednesday, Nov. 10, 2010 9A SCHOFF, +rom page 1A market conditions at the time. "It was the penalties and interest that we were hoping the county would mitigate. The county would have been made whole, except for any cost they had while drawing funds from reserves. Schomac agreed to pay all of those costs, as well. "It is also important to focus on jobs. Plumas County is suffering from a failing tourist economy which is a contributing reason of why there is so much welfare, unemployment claims and general apathy throughout its communities. "Immediately after its purchase in April of this year, Schomac employed dozens of people to work at the Nakoma Golf Resort, not to mention engaging new banking relationships, archi- tects, engineers, construc- tion trades and other busi- nesses, services and vendors who will be impacted and stimulated by our efforts. At full operation, the employ- ment at the resort is expect- ed to exceed 100 employees; not just in hospitality, but in the areas of personal ser- vices, sales, maintenance, housekeeping, construction, and food and beverage. With unemployment in Plumas County hovering around 16 "If we mothball the clubhouse and golf course, all we really have to worry about is minor maintenance, insurance and security. We were OK with stepping up to pull the resort out of bankruptcy and sincerely looked forward to our role in stimulating the local economy. But, without some consideration and compromise from the county, it makes no sense for us to keep feeding the Dragon every year just to keep the doors open." Michael Schoff percent, we cannot under- stand the county administra- tors' apparent obstruction- ists behavior. "Schomac demonstrated a huge leap of faith in taking on the distressed Nakoma Resort, just as we did when we purchased the Feather River ,Inn. Almost everyone familiar with the Nakoma Golf Resort and the Feather River Inn realizes that these are largely philanthropic efforts at this point as there is little chance that the signifi- cant investments Schomac has made in Plumas County will be recouped, let alone provide any return. "The inability of the coun- ty administrators to act coop- eratively and fairly will mean more job loss, more residents relocating and more dollars spent outside the community because of a lack of services. That's some- thing this community cannot afford. "Logging, lumber mills and railroads can no longer be counted on as the econo- my's backbone in Plumas County. It is tourism and the various forms it takes that should be the new focus. Schomac is fully engaged in bringing the concept of "Stay and Play" to the fore- front of this effort. With the historical aspects of the century-old Feather River Inn together with the unique architecture of the Frank Lloyd Wright-designed club- house at the Nakoma Golf Resort, there is a great op- portunity for these two ma- jor resorts to once again be- ing the shining beacons for Plumas County. Michael Schoff "It could be just the cata- lyst needed to jumpstart the local economy. Schomac's carefully thought-out strate- gy can become a reality with a little help and support from a county which will benefit the most." On behalf of Michael ScholT,, Nakoma Associates LP, and The Sckomac Group, Ina Editor's note: Plumas County Administra tive Offi- mr Jack Ingstad oonfirmed there was a legal agreement with Schomac to cover legal expenses for litigation related to the Feather River lnn but disagreed that the EIR was a countydocument, saying that Schomac's California Envonmental Quality Act lawyers had examined it and approved it as well. Who ott?00lS According to Assistant Tax Collector Julie White, three of the parcels included in the bankruptcy sale of Gold Moun- tain properties are assigned to W. Michael Schoff and the others are all listed to Nakoma Associates, LP. When the question is raised as to who are the principals of Nakoma Associates, LP, the re- sponse is that it is "a Michael Schoff and family affiliated entity." In other local ownerships: the Schomac Group is the own- er of the Feather Rive'r Inn, and Michael Schoff is listed as owner of the Long Valley Resort. Schomac owns the Calpine ranch in Sierra County. The press statement from Michael Schoff quoted above was presented as representing The Schomac Group, Inc. as well as expressing Schoff's personal sentiments. W. Michael Schoff began Schomac Group, Inc., with Tucson, Ariz., headquarters, in 1974. According to its website: "It is a privately held real es- tate investment, development and management company that has sponsored over 100 syndicated and private and limited partnerships, and has joint ventured as many proper- ties, with both institutions and private individuals. "For the past 30 years, our success has been based on TAXES, from page 1A regard to future tax credits, the Nakoma Golf Resort will be forced to close the golf resort. The Schomac Group operator to a land speculator waiting for times to get better before any more money is invested into the property," Rothschild wrote. So, in summation, the Supervisors cannot meet as the Board of Equalization to review the case until a formal appeal has been filed. A formal appeal for a refund cannot be fried until the taxes As of press time, Plumas County Administrative Offi- cer Jack Ingstad reported that no such appeal had been filed with the county. a disciplined and timely approach to the acquisition and disposition of assets, financings and asset manage- ment. Our seasoned and pro- fessional management align Nakoma? their goals with our investors by having a vested interest in every investment," professes the Schomac Group, Inc. SGI has holdings in several states and past ventures have included the management of a $212 million self-storage com- pany, sold in 2006. Online Self Storage sold in 2009. The com- pany has a background in the management of apartment and office complexes as well. It also invests in real estate. In California, in addition to the Plumas and Sierra prop- erties listed above, the invest- ment groups own an $18 mil- lion + ranch with 249 acres in Los Olivos, Calif., and "less than S00 +' acres nearby, which are enrolled in the Williamson Act; 45 acres in the Santa Lucia Preserve in Carmel; and a motel outside Los Alamos as well as having interests in Sacramento. In Gold Mountain, Schoff stated last April, at the time that he purchased the bank- ruptcy assets, that he was undergoing a $3 million pur- chase of the remaining unsold lots, a purchase from three entities. The number of lots is unknown, and Schoff said that the sellers prefer to keep the information confidential. When asked if the other Plumas County property taxes were paid, Schoff replied, "It is my understanding that the Feather River Inn and Long Valley Resort properties are unpaid, awaiting the outcome of the litigation between the HSRA (High Sierra Rural Alliance) and the county." will change roles from an Plumas County Board 'of are paid in full. Need help KRETH HANDYMEN BUILD IT, Fix IT, REMODE'L IT We Care About You! No lob Too Big or Too Small Steve Kreth .:.  Insured  CA License #907193  Bus: 530-836-0870  Cell: 249-3126 .....  ">:=-_: + +% w,nter2i++; +:+i) .+ i at the ::+: ++,:i++:Gi+ --rill .... ....... kjrlZZlV .o.a. - r" " ...... j y ra es G R I I. L Lunch or Dinner 250 Bonta St. Blairsden  $ ...... 886 t3oo lrom l o c;au t,ynn SINCE 1984 m 1 General Building Contractor I Calif. Lie. #453927 1 (530) 283-2035 | +@+:,++:++ F L SERVICE ++!, i++ :+ ':+i: Small Plates Menu "','++'@ Early Bird Special, Menu (5-6pm) Full menu - Great prices! 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