Clarity Entertainment, Inc. entered into an agreement with the City of Redding in January 2012 to purchase approximately 77 acres in the Stillwater Business Park for a film and television production facility. Clarity Entertainment had until September 2012 to evaluate the site and confirm that it intended to proceed with the real estate transaction.
Clarity Entertainment notified the City of Redding this week that its has not been able to identify an economical method to mitigate noise and vibration associated with aviation uses at Redding Municipal Airport. This notification from Clarity Entertainment to the City of Redding effectively terminates the January 2012 agreement.
“The City of Redding understands and respects Clarity Entertainment’s decision,” said Redding City Manager Kurt Starman. “The City of Redding wishes Clarity Entertainment well in its future endeavors.”
Under the terms of the January 2012 agreement, the $100,000 deposit submitted by Clarity Entertainment has been held in escrow and will be returned to Clarity Entertainment.