The Sacramento, California, rancher who is planning to build a $8 billion golf course has sold the land and is using it to build up his ranch.
The Sacramento County Board of Supervisors voted 3-2 Tuesday to approve the sale of the land that is located near the border of California and Oregon for $1.9 billion.
The sale will include $8 million to cover the $3.8 million for the construction of the course, $1 million to purchase an unused portion of the golf course, and $2.5 million for improvements, according to the county.
The county also has $250,000 to pay for property taxes for the first four years of the deal.
The $8,000 purchase price was the highest bid from any developer in Sacramento County history.
The previous record was $4.9 million for a project that was approved in 2016.
The purchase price for the land will not affect the county’s current debt service obligation, which is $7.4 million.
The property is located just south of Highway 5 and is part of the larger parcel of land that was bought for $3 million.
The land has been the subject of an ongoing debate over whether the land should be developed or sold.
The board voted unanimously to approve that proposal.
Ranchers are in the midst of a massive drought that has cut property values and forced them to pay billions of dollars in water, sewer and trash fees to the state.