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UPDATE: Chumash buy Fess Parker land in $40M deal

By   /   Friday, April 2nd, 2010  /   Comments Off on UPDATE: Chumash buy Fess Parker land in $40M deal

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The Santa Ynez Band of Chumash Indians has bought a 1,390-acre ranch from Fess Parker Entreprises, the company of the late Fess Parker. The deal’s recorded value was $40 million.

Charles Bargiel, an attorney for Fess Parker Enterprises, said negotiations for the property commonly known “Camp Four” went on for several months. “Mr. Parker himself knew about it and supported it but was not actively involved in the transaction,” Bargiel told the Business Times. “The executives of the company made a business decision which they thought was in the best interest of the company.”

The Chumash voted on and approved the purchase after several months of negotiations, the tribe said in a release. “Our decision to purchase this land was made as a tribe,” Vincent Armenta, tribal chairman of the Santa Ynez Band of Chumash Indians, said in a release. “The land is historically significant to our tribe and we are excited to own it.”

Neither party would immediately disclose terms of the transaction.

However, Santa Barbara County property records show the Chumash reported a “recorded amount” of $40 million with the county assessor’s office on March 26 in connection with the deal. The recorded amount isn’t necessarily the same as the sale price but is used for tax purposes.

[Editor’s note: This story has been updated since its original posting. An earlier version misspelled Bargiel’s name.]

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