On December 16, 2003, after a competitive process, the LRA selected Upstream Investments, LLC (Upstream) as the developer of the site. The Richmond City Council approved a Land Disposition Agreement (LDA) with Upstream on November 9, 2004, authorizing the City to sell its portion of Point Molate to Upstream. Upstream currently proposes to transfer ownership of Point Molate to an Indian tribal group, the Guidiville Band of Pomo Indians, to develop the site as an Indian casino.
On March 7, 2006, the City Council approved the First Amendment to the Land Disposition Agreement to allow for phased site development. On September 2, 2008, the City Council approved the LDA's Second Amendment. The LDA's Third Amendment became effective on January 15, 2010 extending the LDA expiration date to March 15, 2010. The LDA’s Fourth Amendment became effective March 16, 2010 extending the LDA expiration date until April 20, 2010. The LDA’s Fifth Amendment became effective April 16, 2010 extending the closing date until May 20, 2010.
On May 18, 2010, the Sixth Amendment became effective, extending the closing date to April 20, 2011. The Sixth Amendment also commits Upstream to participate in at least 3 public workshops to solicit additional alternative uses prior to the City’s consideration of the final Point Molate Mixed Use Tribal Destination Resort and Casino Project EIR/EIS. These workshops will be held before the end of calendar year 2010.