Community parking lot shares renegotiated

The local owners of the trust that governs the community parking lot adjacent to the Fallbrook Library are planning to spin off the county’s portion of the lot.

Don McDougal, owner of Grand Tradition Estate and Gardens and trustee of the Fallbrook Parking Trust, said an agreement has been reached with San Diego County – which purchased three out of nine shares in the trust in order to gain the appropriate amount of parking credits for the new library that opened in 2011 – to have the county forfeit its shares in the trust and allow it to take direct ownership of the portion of the lot directly...