TCID agrees to sell Fernley motorcycle track property |

TCID agrees to sell Fernley motorcycle track property

Nevada Appeal News Service

The 35 acres that the Fernley motocross racetrack has occupied for more than 30 years has been approved for sale by the Truckee-Carson Irrigation District Board of Directors.

The board unanimously approved selling the 35.6-acre parcel to Gilbert Loomis, a buyer from Fernley, for more than $500,000. The land sits north of Interstate 80, just west of the Truck Inn and two cemeteries.

Kim McCreary, the real estate agent handling the sales agreement, told the board Loomis recently acquired five parcels adjacent to the motocross track totaling 30 acres.

“He quietly goes about and buys property and holds it,” McCreary said.

TCID Board President Ernie Schank asked McCreary if the buyer had a problem with the current lease in place to allow the Fernley-Wadsworth Lions Club to continue holding motocross races on the land until the end of the year.

McCreary said Loomis had no plans to ask the Lions Club to leave.

“The Lions Club is a good organization for Fernley,” McCreary said. “As long as he feels there’s adequate insurance coverage, the Lions could be there 10 years.”

McCreary said Loomis is aware of the level of interest in the land from the Lion Club and knows it wouldn’t be a good political move to “run a non-profit organization out just to do it.”

“He’s going to leave the Lions Club right where they’re at,” McCreary said. “He’s not going to ruffle anybody’s feathers.”

The Lions Club signed a lease agreement with TCID in January for use of the undeveloped 35 acres. The lease is for $5,000 for one year, payable quarterly in advance. Previously, the club paid $1,000 per year for the land.

The track generated a lot of interest near the end of 2006 when the Lions Club faced competition for the land. Motocross promotion company DMX5, owned by Ty Erquiaga, presented a lease offer at the December 2006 board meeting. The board held a special meeting Dec. 27, 2006, and awarded a one-year lease to the Lions Club.

Following the approval of the one-year lease, the Lions Club submitted a bid proposal for a five-year lease for substantially more money. The proposal called for $10,000 the first year, $25,000 for years two and three and an annual rent increase of 2 percent per year beginning in year three of the lease. The club also proposed to fence the property and to be granted first right of refusal if TCID entered into an agreement to sell the property during the lease term.

The club was sent a letter in July informing them of a sales offer on the land and giving the organization an opportunity to counter the offer.

Peggy Foley, vice president of the Fernley-Wadsworth Lions Club, said there was no possibility of the club purchasing the land.

“With all our events and all the money generated, we use that for the health and well-being of people in need in our community,” Foley said. “There’s no possibility of us getting our hands on that kind of money.”

Foley said she’s spoken to Loomis about the club leasing the track next year and is hoping to work something out.

“He seems to be a reasonable, community-minded man,” she said.

McCreary emphasized the board simply approved an offer and acceptance agreement at Tuesday’s meeting and the buyer still has due diligence and time to investigate the property.