A Fallbrook couple is trying to come to the rescue of Gird Valley residents.
Gird Valley, Inc., owned and operated by longtime Fallbrook residents Jade and Julie Work, is in the process of trying to buy Fallbrook Golf Club from Jack Lamberson. Escrow is expected to close by the end of the month, according to a press release issued by SaveFallbrookGolfCourse.com on behalf of the Works.
Lamberson was served with a notice of default on Sept. 1 from Chicago Title Company, the trustee for Ronald Richards’ D-Day Capital, LLC. Richards, a Beverly Hills attorney who often works with developers, owns the notes on the 116-acre Gird Valley property and started the foreclosure process with the notice of default.
The press release states Gird Valley, Inc. “will pay off the debt and the arrears during the escrow process, thus removing D-Day Capital as lien holder.”
“When we saw it was headed for imminent development, we decided to buy it,” said Jade Work, owner and operator of the golf course construction company Integrity Golf.
Richards, who has a lis pendens (notice there is a pending action filed in court affecting the property) on the Fallbrook Golf Course land, sent the following email to the Village News after being informed that a sale of Fallbrook Golf Club was in escrow:
“We have no knowledge of that. Title cannot be transferred with a lis pendens clouding title. We are proceeding with our actions both non judicially and judicially. Jack and his defunct company will not be receiving any proceeds from the escrow. We will lock them up pending trial so he won’t be utilizing them if that is his pipe dream. If he wants to impound any surplus funds pending the resolution of our lawsuit, we would consider discussing that option.
“Jack is D-Day’s number one target defendant and all of our corporate resources are directed to recouping the large amount of damages he has inflicted on the asset, as well as the growing arrearages, and our six figure legal fees. We are also seeking any creditors of his that he has not paid to assist them in collecting any unpaid claims. Finally, the fact that it is in escrow does not mean it will close escrow. Jack has a history of making deals then breaking them and we have little confidence he can close this one. We look forward to responding to named buyers instead of classified ones.”
According to a seasoned real estate developer, what Richards is saying in his email is that the Works will have to deal with him in order to complete any deal for Fallbrook Golf Club.
The Works, provided they are able to complete the deal, haven’t committed to using the property as a golf course. However, they have vowed to place conservation easements on the land. Conservation easements enable land owners to protect a portion of their land with conservation value without giving up title to the land, or going through a costly lot-split process.
“We are reviewing several options for the property,” said Jade. “Whatever use we commit to, it will be in keeping with the rural character of Gird Valley and will enhance the neighborhood. We will hold a meeting to share our plans with the community soon and look forward to their insight. Our main intention is to preserve the property from development. While this is clearly the most profitable use of the land, it is important to us to keep this land open for others to enjoy as we have growing up here. The land will be placed in a conservation easement.”
Leaders of SaveFallbrookGolfCourse.com are thrilled that the Works – Fallbrook High School graduates who have been married for more than 26 years and have three sons – are stepping to the plate to try to “save” Gird Valley from development.
“The family will save this property forever,” said Teresa Platt, one of the Gird Valley residents that spearheaded the establishment of SaveFallbrookGolfCourse.com last January. “The conservation easement is a wonderful gift. It’s extraordinary.”
Integrity Golf’s website boasts of completing “multi-million dollar landscaping packages.” Platt is excited to see what the Works will do with the golf course property.
“These are great buyers, and it’s a great future for the property,” said Platt. “He’s looking at a lot of different options. We know the property will be beautiful because he does a great job.”
Joan McConnell, another key director of SaveFallbrookGolfCourse.com, is also hopeful the Works can take over the property.
“Beyond appreciating the intrinsic beauty of the location and saving it from development, Jade and Julie have the skills, knowledge and experience to create something really stunning here in Gird Valley,” said McConnell. “We are here to help them succeed in that endeavor.”