The Placer County Board of Supervisors this week approved an agreement that could result in the development of the first new hotel in Kings Beach in decades.

In a 4-0 vote, the board approved a $3 million purchase and sale agreement with developer Kings Beach Center LLC, represented by Craig Clark, to redevelop Placer County’s Kings Beach Center property in the Kings Beach town center. Supervisor Jennifer Montgomery was absent from the meeting due to illness.

The 3.5-acre parcel on North Lake Boulevard and Salmon Avenue includes vacant land, residential and commercial buildings.

The development concept negotiated in the purchase agreement includes a hotel with 80 to 150 rooms, 10 to 40 condominiums, 15,000 square feet of retail and 2,000 square feet of space for public use, with a library among the options being considered for that space.

The Feb. 6 decision does not complete the sale of the property or approve the project, but sets the conditions for its eventual sale if and when a project is formally approved.