CALABASAS : FDIC Accepts City’s Bid for Tennis Club

The city of Calabasas has successfully bid $1.8 million for an underused tennis and swim club, which is expected to result in the city’s largest purchase since it incorporated in 1991.

“I’m ecstatic,” said Mayor Marvin Lopata. “The area has no real place for our kids to go, and our community has been lacking recreation facilities in general.”

The city will actually pay 8% less than the amount bid, because of a discount offered to Calabasas by the club’s current owner, the Federal Deposit Insurance Corp. The FDIC took over the property in September after the original owner defaulted on loans.

The Calabasas Park Tennis & Swim Club, which includes 14 courts, an Olympic-size swimming pool and other amenities, is used by a youth tennis league and individuals who pay daily rates but has not been operated near its potential for several years, Lopata said.

“Right now, the swimming pool is being used to collect rainwater,” Lopata said. “I don’t know if this is what is going to happen, but I think it would be great to get a Calabasas swim team organized.”

The tennis league will be allowed to continue, Lopata said.

Purchase of the 8.3-acre facility at 23400 Park Sorrento would be made with Los Angeles County bond money and developer fees, said City Manager Charles Cate. Escrow closes Jan. 15, he said.

Lopata said city officials probably will look for a private operator to lease the club. Hopefully, the club will turn a profit, he said, but that isn’t the main reason the city wants to purchase the property.

“The idea is to both let the operator sell memberships and allow the public to use it on a regular basis,” Lopata said. “It will be wonderful if we break even, but the objective is to provide an opportunity for recreation.”

The planned purchase comes as the fledgling city looks to spend more than $6 million in county bond money and developer fees set aside for recreation. Another proposal is the construction of a gymnasium and community center with funds from Calabasas and neighboring Agoura Hills.