Kellar Reveals COC Commission Amounts
Commission lower than traditional amount for multi-parcel negotiations.
Santa Clarita Mayor Bob Kellar has revealed the amount of commission received from brokering the land purchase for the College of the Canyons East Campus.
The 70-acre campus, which opened in 2007, involved negotiations with six different property owners, and earned Kellar $140,186. Early in the negotiations, Kellar and the college agreed on a 4 percent commission, which was lower than the traditional 6 percent for real estate transactions. The discount was given in consideration of the nonprofit status of the community college.
After filing amended Statement of Economic Interests forms yesterday, Kellar said he is still awaiting rulings from the California Association of Realtors and the Fair Political Practices Commission regarding the possible breach of confidentiality for his clients.
The first parcel sold was a 3.5 acre plot belonging to Patrick and Erica Betz, which sold for $930,000, followed by 3 parcels totaling 15.3 acres owned by William and Lenora Lambert that sold for $1,180,000; a 3.39 acre parcel owned by Julia Gamba and Lorida Pena that sold for $785,000; a 2.1 acre parcel that included the Honey House landmark owned by Margaret Warmuth that sold for $749,000; three parcels owned by Dale Rice that sold for $6.25 million and a 16-acre parcel owned by David and Diane Wang that sold for $3.6 million.