Bob Shallit: 'Ponds at Granite Bay' set for auction

Entrepreneur Gary Cino, founder of the 98 Cent Clearance Center chain, made his fortune selling household items at deep discounts.

Now he may have another bargain for just one solitary customer: He's unloading his Disneyesque, 4.7-acre, luxury fishing and entertainment property across from the tony Los Lagos subdivision in Granite Bay. It'll be up for sale next week during a live auction. With no minimum bids.

"I'm prepared to take a loss on this," Cino says of the "whimsically elegant" property at 8300 Moss Court, which he's used for weddings, family events and charity functions.

Cino, now a real estate developer, says he bought the property, which is adjacent to his own home, 10 years ago when it was "an eyesore and fire hazard." His dream was to improve the neighborhood and put in "a fishing hole."

"Being a fishing nut, I thought that would be fun," says the 53-year-old businessman, who sold his discount chain to Dollar Tree Stores a decade ago.

That "hole" eventually morphed into three giant, concrete-lined ponds teeming with trophy trout, catfish, bass and sturgeon.

Over the years, Cino brought in tons of granite boulders, installed waterfalls and added a small log cabin, plus kids' playhouses, slides, gazebos and docks, all on a manicured, oak-studded site. There's still ample space for a luxury home.

Total cost of his improvements: About $5 million.

"I tell people this is the result of imagination, combined with a willing checkbook," says Cino, who built many of the amenities for his three kids' enjoyment.

Now, though, the place isn't used much. Cino's children are grown. With new business ventures looming, the developer says he has limited time to fish or host events at his "Ponds at Granite Bay" sanctuary.

So after listing the place conventionally – and getting no takers – Cino hired a local auction company and spent $100,000 on nationwide newspaper ads and fliers.

His auctioneer, Lincoln-based Kevin O'Callaghan, says he recommended the "absolute auction" format, which means there are no minimum bids.

"You draw attention that way," says the owner of O'Callaghan Auctioneers. "There's the potential for a real steal." (One catch: Cino can cancel the auction if he decides preliminary bids are too low.)

But O'Callaghan expects enough "fair" bids will come forward for a property whose landscaping he says is "hard to beat anywhere in the country" and makes an ideal site for someone desiring to build a home in a parklike setting.

The auction, to be held July 12 at noon, is open to the public, but bidders must be registered. For details, see www.auctioneer 360.com/theponds.

Cino, who will attend the sale, says he's not sad about selling the Ponds.

"I don't even have mixed emotions," he says. "I've had thousands of hours of enjoyment (there), and now it's time for another family to take it over."

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Taking meetings: Sacramento filmmaker Jim Meyers reports that his newest movie – called "Melissa May I" – is taking a couple of giant steps.

Meyers has begun pitching the project in Hollywood and says he's attracted financing interest from "several well-known producers."

He's not naming names but says potential backers include Oscar-winning film producers. Script readings have been held in front of live audiences. Meyers says they seem to like the film's characters: a software guy who falls on hard times and the friends who help him out.

"These are quirky, flawed but lovable human beings with a positive outlook on life," he says.

Meyers' first film, the romantic comedy "Her Minor Thing," which is now out on DVD, was filmed entirely in the Sacramento area.

This one will be shot in El Dorado Hills, with production starting as early as October, Meyers says.

"Hopefully we'll be at some of the best film festivals next year," he says, leading to distribution deals.

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Horsing around: Restaurateur Eppie Johnson doesn't do ribbon cuttings. Too boring.

For last week's opening of his New Horseshoe Bar Grill in Loomis, Johnson had a local dignitary cut a lariat, in keeping with the joint's Western theme.

Johnson's longtime PR guy, Tom McClelland, addressed the crowd, saying the owners were glad not to be opening in a "one-horse town," referring to the community's many equine residents.

But, McClelland added, Loomis is a "one Horseshoe Bar Grill town."

About the writer:

• Reach Bob Shallit at (916) 321-1049. Back columns: www.sacbee.com/shallit