Business

Biz Buzz: Weyrich auction postponed yet again

The public auction of winery properties owned by Paso Robles businessman David Weyrich has been delayed once again, at the beneficiary’s request.

It has now been set for 11:30 a.m. on Dec. 24 on the San Luis Obispo courthouse steps, according to a Chicago Title foreclosure bid information phone recording.

Wednesday’s postponement marks the third time the auction has been delayed. It was originally supposed to take place last Friday.

The Tribune could not confirm why the delays have occurred, but speculation by real estate agents and other interested parties is that Weyrich is negotiating with one or more private parties to sell the properties as a way to satisfy his creditors.

The Weyrich holdings at risk of being foreclosed upon include the Martin and Weyrich Winery, with more than 250 acres of vineyards; Villa Toscana, the luxury bed-and-breakfast inn nestled in the Martin and Weyrich vineyards in Paso Robles’ eastside; two tasting rooms; the York Mountain Winery and vineyards in Templeton; and the 280-acre Jack Ranch Vineyard in Edna Valley, according to notices of trustee sales filed with the county.

The properties were put up as collateral for an estimated $20 million that Weyrich has borrowed from Transamerica Financial Life Insurance Co., a subsidiary of Netherlands-based Aegon, documents show.

— Melanie Cleveland

Paso art group wins grant

Studios on the Park, a nonprofit art venture in Paso Robles, recently received a $5,500 grant from the Art Inspires Fund at the San Luis Obispo County Community Foundation.

The money will allow the group to develop strategic and operational plans as well as hire a business consultant.

Studios was one of four arts organizations to receive the grant because of its artistic impact in the community and commitment to stabilizing its organization, organizers said.

Studios, which is open to the public, aims to bring art to the North County — not only in a gallery setting but in a way to experience its creation. The nonprofit group was founded in December 2007 and opened its 9,600-square-foot site at 1130 Pine St. in downtown Paso Robles earlier this year.

It has artist spaces, classrooms and a gallery for the Paso Robles Art Association. Its artists share the rented workspaces, and the public can walk through as the artists are creating their work.

— Tonya Strickland

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