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Developer, County Reach Deal On Cannon Ranch

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By KEVIN WIATROWSKI

The Tampa Tribune

Published: August 28, 2008

SAN ANTONIO - After negotiating literally to the last minute, the developers of Cannon Ranch struck a deal with county commissioners that adds three years to the development's timeline in exchange for $77 million in road improvements and a cap on the first round of homebuilding.

"It was certainly a long process, but the developers of Cannon Ranch have stepped up and recognized the improvements needed for the benefit of their project and the community," commission Chairman Ted Schrader said.

The planned golf resort and community, also known as Bella Verde, is being developed by California-based New Cities along State Road 52 just east of Interstate 75 in northeast Pasco County.
Schrader was part of an 8:30 a.m. round of talks that preceded Wednesday's commission meeting in New Port Richey. Talks continued nearly up to the point that Schrader called the developers to the podium for their public hearing Wednesday afternoon.

"We're like the guy who finished fourth in the marathon," said Cannon Ranch attorney Keith Bricklemyer. "We're staggering over the line, but we made it."

Under its new deal with the county, New Cities:

• Has until 2017 to finish Bella Verde, which has moved in fits and starts for years.

• Will spend $77 million on road projects. That list includes rebuilding several miles of S.R. 52 and building the eastern leg of Clinton Avenue, between Cannon Ranch and McKendree Road.

• Will build 2,000 homes - about half the total number planned - until the S.R. 52/I-75 interchange can handle more traffic.

• Will reserve $35 million for the loop ramp the state Department of Transportation says will be needed by 2017 to move traffic through the interchange.

New Cities was released from having to resurface S.R. 52 east of the interstate because it has pledged to begin widening work in three years, Schrader said.

If those building other developments in the area, such as Pasco Town Center, or the county or DOT step up to build the ramp, the Cannon Ranch developers can put their money toward extending Clinton Avenue to Curley Road, Schrader said.

The deal gives New Cities a chance to renegotiate its financing for Bella Verde, Bricklemyer said. The agreement also formally ends nearly a year's worth of wrangling between Cannon Ranch and Pasco Town Center, its office-retail neighbor to the west.

The two are vastly different projects, but they share a common problem: forebodings of gridlock at the nearby interchange.

County planners yoked the two projects together last year, hoping they could share responsibility for the needed roadwork. At the time, Cannon Ranch had fallen silent amid the state's housing slump, and Pasco Town Center was trying to get off the ground.

That marriage ended this month.

County and state traffic experts say the existing interchange of S.R. 52 and I-75 will fail as both projects develop unless improvements are made.

Reporter Kevin Wiatrowski can be reached at (813) 948-4201 or kwiatrowski@tampatrib.com.

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