CA AB1645

Authorizes the Department of Parks and Recreation to extend the existing concession contract with Crystal Cove Management Company by up to an additional 20 years beyond current terms.

Extension is permitted if the Director determines it is necessary to allow Crystal Cove Management Company to qualify for and complete federal historic rehabilitation tax credits under Section 47 of Title 26 of the United States Code.

Extension applies specifically to Phase III restoration of 17 historic cottages at Crystal Cove State Park, including construction and operation of multiple-unit lodging facilities with full amenities.

Negotiated extension terms must be based on the value of the term extension and may include increased rental rates as consideration; all third-party investments from tax credits must be used for the cottage restoration project.

Takes effect immediately as an urgency statute, approved by the Governor on July 12, 2022.