Work on the 125 year-old Palace Hotel in Ukiah can finally begin now that the Los Angeles based court appointed receiver, Mark Adams, has been granted approval by the Mendocino County Superior Court to move forward with his proposed plan to abate the hazardous conditions of the property.
The building's owner, Marin County Real Estate agent, had made multiple efforts to renovate the building she and several partners bought at a bankruptcy sale in 1990 for $115,000 dollars. But city officials said their efforts did not keep it from deteriorating or from becoming a public safety issues. The city petitioned for a receivership in 2015. A judge approved the request in January.
According to a press release issued by the city of Ukiah this week, Adams will begin working to obtain financing for the building rehabilitation project immediately, and loans, not city funds will be secured by the property. His plan for reuse includes a restaurant and bar, and a hotel. His report concludes the value of the Palace will equal or exceed the value required to secure funding, after the conditions are abated.