City selling lot on corner of Ski Run Blvd and Highway 50 to developer

The City of South Lake Tahoe is set to sell the vacant lot they own on the southwest corner of Ski Run Blvd and Highway 50 during Tuesday's City Council meeting.

A purchase and sale agreement between the Halferty Development Company, LLC of Pasadena, CA and the City of South Lake Tahoe was created on January 5, 2015 and will be voted on January 20, 2015. The agreement shows that Halferty has offered $1,100,000 for the lot and will get 12,000 square feet of commercial floor space with the sale.

Halferty's website shows they have developed almost 30 Rite-Aid stores and four Sav-On stores as well as shopping centers and office buildings in Southern and Central California and Southern Nevada. Their website states, "Halferty Development Company is in the business of creating and enhancing the economic value of commercial real estate properties. The Company accomplishes this by evaluating high-growth communities throughout California for the purpose of identifying local and regional needs for commercial retail shopping centers and developing facilities and services that meet the demands of these markets."