I agree that a lion that had been this bold AND stares down the rangers when they are pelting it with bean bags is a problem. Relocating it a few miles away may not be a viable option.
For starters, it may just find its way right back to Whiting if it thinks that's a good home. There's certainly ample food & water there.
Secondly, mountain lions have a vast range, and from what I recall reading a while back I don't think they do well at sharing territory with other lions, especially when they are introduced after the fact and not born there.
The CA Dept of Fish & Game states that they do not relocate lions, for several reasons including potential danger to people (& presumably liability to DFG) in the new location. They do note that "...an animal is deemed to be a public safety threat if there is “a likelihood of human injury based on the totality of the circumstances.” Factors that are considered include the lion’s behavior and its proximity to schools, playgrounds and other public gathering places. The determination of whether an animal is a public safety threat is made by the DFG or local law enforcement personnel on the scene." In the case of Whiting, there is a park commonly used by families with young kids and pets right at the top of Concourse Road a few hundred yards from where this cat has been spotted, and of course there are houses all around the park.
Not sure if DFG would be involved in this case or if the county handles this entirely on their own, but more info is on the DFG site:
http://www.dfg.ca.gov/news/issues/lion/lion_faq.html
edit: just saw the post that it will stay in captivity. Sad, but better than the other likely outcome.