City has no plans to sell lease on Laguna Vista Mobile Estates

City has no plans to sell lease on Laguna Vista Mobile Estates
The city has no immediate plans to sell its ground lease on Laguna Vista Mobile Estates. Photo by Promise Yee

OCEANSIDE — Homeowners of Laguna Vista Mobile Estates mobile homes addressed the Mobile Home Park Financing Authority to clarify whether the city-owned lease on the park was up for sale Feb. 1.City Manager Peter Weiss said two unsolicited bids were made, but the city presently has no plans of selling the 41-year ground lease.The current lease agreement between the city and property owner L. Ishii Associates ensures residents that the park is run as a nonprofit. The owner gets an agreed-on percent of the space rents that range from $500 to $700 a month. The remaining funds are used for park repairs and maintenance.

The city has no immediate plans to sell its ground lease on Laguna Vista Mobile Estates. Photo by Promise Yee

The possibility of a new leaseholder and a different rental agreement concerned homeowners who have mobile homes anchored in the park.

“I’m faced with this ordeal, if I have a home that I can stay in,” Suse Shoryer, Laguna Vista Mobile Estates resident, said. “It’s very unnerving and very upsetting.”

The possibility of selling the lease was discussed last June, but a 3-3 vote by the Mobile Home Park Financing Authority gave no direction to city staff to pursue the idea.

“This is the fourth or fifth time this council has come at us threatening devaluing our homes,” Steve Stewart, Laguna Vista Mobile Estates resident, said. “We have our last dollars invested in that.”

Family owner Larry Ishii said it is premature to anticipate what will happen in 41 years when the lease ends.

Weiss said that City Council would look at the possibility of selling the ground lease in March and focus on keeping the leaseholder a nonprofit.

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  1. fobesq says:

    It has already been sold to the owners of the land. Escrow closed May 2013.

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