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Epperson Developer Seeks Changes

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By KEVIN WIATROWSKI, The Tampa Tribune

Published: March 11, 2008

WESLEY CHAPEL - The new developers of Epperson Ranch have hit Pasco County with a raft of changes to the pending development deal originally drafted by their predecessor, Lennar Corp.

Tampa-based Metro Development Co. submitted its list of changes March 3, ahead of today's county commission meeting. Many of the proposals would reverse conditions county officials imposed on the project last fall.

Metro has asked commissioners to delay a decision on the development deal until the county staff reviews the requested changes.

The delay would be Epperson's 18th in two years.

County commissioners will consider Metro's request when they meet at 10 a.m. at the historic Pasco County Courthouse in Dade City.

County planners have recommended commissioners approve the deal as is and let Metro come back with changes on a piecemeal basis.

Metro bought the rights to develop the 1,700-acre Epperson family homestead on Curley Road last fall for an undisclosed amount. At the time, Miami-based Lennar was unloading nearly 20,000 home lots across the country at steep discounts to lighten its financial obligations.

The Epperson sale amounted to nearly half of 8,300 lots Lennar sold Metro in Pasco, Hillsborough and Polk counties.

Before it walked away from Epperson Ranch, Lennar spent two years negotiating a development deal with Pasco County. The company committed itself to building half of a downtown-style commercial center straddling Curley Road just north of Wells Road. It also agreed to shift the south end of Curley east to meet State Road 54 across from Meadow Pointe Boulevard.

The other half of the town center is now under construction on the east side of Curley Road as part of Crown Communities' WaterGrass project.

Metro remains committed to building its portion of the town center and to realigning Curley Road, according to documents it has sent the county. The company is asking to be allowed to set aside slightly less land for the town center and wants the final deadline for the project pushed back a year, to 2018.

The bulk of the revisions to Lennar's original deal with the county involve road work.

For example, the county originally wanted the Curley Road realignment to begin either by 2012 or after the 800th house was approved. Metro is asking to drop the 2012 deadline.

Metro also wants the county to kick in funding, in the form of impact-fee rebates, for giving additional right of way for widening Curley Road and for improving nearby streets feeding into Curley, such as Elam and Tyndall.

And Metro would like to finance the Curley Road realignment and other improvements through a special taxing district that could borrow against the future value of the finished project. The money would be repaid by property owners in the development.

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

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