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Stonehill announced it has named Nick Baer to the newly created position of vice president of business development. Baer is responsible for originating and structuring debt and equity investments across Stonehill s hospitality lending platform and helping to drive its strategic growth efforts. He will report to Stonehill s executive vice president, Brent LeBlanc.
Baer most recently served as senior vice president at Jones Land LaSalle (JLL), responsible for arranging approximately $7 billion in acquisitions, construction and refinancing for individual hotel assets and portfolios. Before his time with the investment banking team, Baer was responsible for the disposition of single assets and portfolios for JLL s hotel investment sales division.
FAIRFIELD-SUISUN, CALIFORNIA
BurgerIM employee Jody Walker takes orders behind a safety screen at the Dixon restaurant on Friday, July 24, 2020. (Robinson Kuntz/Daily Republic file)
Solano’s economic efforts continued in 2020 despite pandemic
FAIRFIELD Solano County re-energized its Solano360 project with the selection of a new master developer for the redevelopment of the fairgrounds in Vallejo, and Vacaville formed a 300-acre California Biomanufacturing Center zone – both in the final quarter of 2020.
The final review of the Covid-19 pandemic on Solano County’s economy, however, will likely be on how many small businesses will have been lost.
A state stay-at-home order forced the closure of many businesses in the spring, and while many businesses ignored a second lockdown order in December, economists do expect many businesses not to survive.
County to pay consultant $200,000 more for Solano360 work
This is the second amendment to the contract, which now totals $249,000.
“This second amendment is to extend the contract time and add additional scope and fee to assist the county with Phase II of the project which will include negotiation and implementation of an Exclusive Right to Negotiate Agreement with . . . Industrial Realty Group/Jones Land LaSalle,” the staff report to the board states.
The consulting firm also helps coordinate land uses, and assists in the development and lease agreements.
Industrial Realty Group/Jones Land LaSalle was selected by the board to be the master developer of the project.
Supervisors extend agreement with Fair Board through 2021
FAIRFIELD The Solano County Fair Association had requested a two-year extension to its management agreement, but Solano County supervisors on Tuesday extended the agreement only through the end of 2021.
Board Chairwoman Erin Hannigan did make a motion for the two-year extension, but it lost on a 2-3 vote with Supervisors Monica Brown, Jim Spering and John Vasquez in the majority.
The fair association wanted the two years to provide more certainty for clients looking to use the fairgrounds for events each year.
The new deal also carves away some of the fairgrounds property the fair association will be responsible for, stating “the association is responsible for the area used for the county fair and fair-related activities.”