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Costco Terminates Placer Lease Option in Auburn

It appears plans for an Auburn area Costco are on hold. On Monday, Placer County received notification from Costco Wholesale Corporation that Costco has elected to terminate its option to ground lease land at the Placer County Government Center in North Auburn.

Click here to listen to Mary Dietrich

Dietrich says the letter arrived yesterday and she has been trying to get  a hold of Costco’s Corporate Offices but has yet to make contact.

Click here to listen to Mary Dietrich

The option to ground lease contract was signed with Placer County in December 2014.

Click here to listen to Mary Dietrich

As a result of the agreement apparently not following protocol, the City of Auburn and a local business group took legal action.

Click here to listen to Mary Dietrich

Dietrich, says Placer County respects Costco’s business decision and looks forward to future discussions with Costco regarding potential construction of a Costco store in Placer County.

KNCO ran a related story about the City of Auburn taking legal action against Placer County for not following protocol for project approval in early January.

http://knco.com/auburn-suing-county-over-costco/

 

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