adventurous
New member
It's just that Choi and gang are no better.iacrenter said:Mr Agran,
Goodbye and don't let the door hit you on the way out.
Congratulations to the Developers
- Thread starter Joe Irvine
- Start date
NEW -> Contingent Buyer Assistance Program
LOL
Potentially worse.
State denies $1.4 billion for O.C. Great Park
Orange County Great Park is on track to become Irvine's Pretty Good Park now that state officials have determined that the project will not get the $1.4 billion in local property tax revenue the city was depending on to build it.
A grand, metropolitan park was promised to countywide voters a decade ago when they rejected a proposed international airport. The fight over the destiny of the air base was one of the most divisive and intense political and legal battles in Orange County history.
California Department of Finance declared that the 1,347-acre project controlled by Irvine is not entitled to an exception under the state law that eliminated redevelopment agencies and their projects to reduce state budget deficits. The property taxes would have come from the new homes and commercial sites built on the rest of the 4,682-acre decommissioned military base.
City Councilman Jeff Lalloway said $1.4 billion in lost funding cannot be replaced and that unless the city wins its lawsuit, the park will have to be significantly and dramatically scaled down from what "previous City Councils" have promised.
"There is absolutely no way" the park can be built as it was advertized without the redevelopment funding, Lalloway said. He said they might find another $200 million on top of the $200 million they already received from development fees.
The city has been looking for alternatives to help fund the Great Park for several months. Officials have been in negotiations with developer Fivepoint Communities Management Inc. ? a Lennar Corp. spinoff company in California ? about doubling the number of homes around the park from 4,894 to about 10,500 while cutting back on commercial projects.
That could bring in significant revenue to build the park, but won't come close to $1.4 billion, officials said. They will also be focusing on public-private partnership deals, such as the ice rink that the Anaheim Ducks wants to build at the Great Park.
Yes - they agreed to let the developers (five points) build another 5,000 homes in exchange for spending $200-300 million on building some sports fields for the great park.
http://www.ocregister.com/articles/meeting-539068-park-irvine.html
Nov. 26, 2013
"IRVINE ? The Orange County Great Park will have 688 acres of sports fields, a golf course, trails and more along with 4,606 more houses neighboring it after the City Council voted 3-2 early Wednesday in a vote that alters the park?s future.
It was hardly that simple, though.
Mayor Pro Tem Jeff Lalloway, considered the swing vote since he suggested and voted to postpone an earlier vote two weeks ago, maintained his poker face until just before midnight Tuesday.
That?s when he revealed the conditions he would need met before he would agree to the plan proposed by developer FivePoint Communities to spend about $200 million toward building parts of the Great Park, in return for FivePoint being allowed to build homes on its property east of the park."
Joe Irvine
New member
eyephone said:
LOL
Joe Irvine
New member
adventurous said:It's just that Choi and gang are no better.iacrenter said:Mr Agran,
Goodbye and don't let the door hit you on the way out.
Potentially worse.
timandjess
New member
I've been somewhat following the great park news, and everything that has been published seems to suggest these points, and I'd really like to hear everyones's opinion on them as I don't like to make media reporting a fact.
1. Agran's tenure saw millions given away on contracts that produced nothing substantial.
- But how much of the park was actually promised/planned in the first place after $200million spent? If the promise was completion, then Agran, regardless of the reasons of him not completing, failed and should take responsibility.
- Did everyone else on the council (Dem/Rep) all had their hands in the cookie jar but simply made Agran an scape goat?
2. Choi' steam receiving large campaign support from five point/lennar so they could have the great park project.
- With the $200mil war chest gone, and unlikelihood of receiving more from anywhere, what choice does irvine have left but to concede to any builder who's willing to flip the bill?
- Did Agran really support slow growth? He supposedly had many developers as his financial backing as well and had been approving high density developments. Is this just one developer outspending another developer to win contracts?
Thanks for your thoughts up front.
1. Agran's tenure saw millions given away on contracts that produced nothing substantial.
- But how much of the park was actually promised/planned in the first place after $200million spent? If the promise was completion, then Agran, regardless of the reasons of him not completing, failed and should take responsibility.
- Did everyone else on the council (Dem/Rep) all had their hands in the cookie jar but simply made Agran an scape goat?
2. Choi' steam receiving large campaign support from five point/lennar so they could have the great park project.
- With the $200mil war chest gone, and unlikelihood of receiving more from anywhere, what choice does irvine have left but to concede to any builder who's willing to flip the bill?
- Did Agran really support slow growth? He supposedly had many developers as his financial backing as well and had been approving high density developments. Is this just one developer outspending another developer to win contracts?
Thanks for your thoughts up front.
paperboyNC
New member
http://www.ocregister.com/articles/park-356735-city-great.htmltimandjess said:
State denies $1.4 billion for O.C. Great Park
Orange County Great Park is on track to become Irvine's Pretty Good Park now that state officials have determined that the project will not get the $1.4 billion in local property tax revenue the city was depending on to build it.
A grand, metropolitan park was promised to countywide voters a decade ago when they rejected a proposed international airport. The fight over the destiny of the air base was one of the most divisive and intense political and legal battles in Orange County history.
California Department of Finance declared that the 1,347-acre project controlled by Irvine is not entitled to an exception under the state law that eliminated redevelopment agencies and their projects to reduce state budget deficits. The property taxes would have come from the new homes and commercial sites built on the rest of the 4,682-acre decommissioned military base.
City Councilman Jeff Lalloway said $1.4 billion in lost funding cannot be replaced and that unless the city wins its lawsuit, the park will have to be significantly and dramatically scaled down from what "previous City Councils" have promised.
"There is absolutely no way" the park can be built as it was advertized without the redevelopment funding, Lalloway said. He said they might find another $200 million on top of the $200 million they already received from development fees.
The city has been looking for alternatives to help fund the Great Park for several months. Officials have been in negotiations with developer Fivepoint Communities Management Inc. ? a Lennar Corp. spinoff company in California ? about doubling the number of homes around the park from 4,894 to about 10,500 while cutting back on commercial projects.
That could bring in significant revenue to build the park, but won't come close to $1.4 billion, officials said. They will also be focusing on public-private partnership deals, such as the ice rink that the Anaheim Ducks wants to build at the Great Park.
paperboyNC
New member
yaliu07 said:
Yes - they agreed to let the developers (five points) build another 5,000 homes in exchange for spending $200-300 million on building some sports fields for the great park.
http://www.ocregister.com/articles/meeting-539068-park-irvine.html
Nov. 26, 2013
"IRVINE ? The Orange County Great Park will have 688 acres of sports fields, a golf course, trails and more along with 4,606 more houses neighboring it after the City Council voted 3-2 early Wednesday in a vote that alters the park?s future.
It was hardly that simple, though.
Mayor Pro Tem Jeff Lalloway, considered the swing vote since he suggested and voted to postpone an earlier vote two weeks ago, maintained his poker face until just before midnight Tuesday.
That?s when he revealed the conditions he would need met before he would agree to the plan proposed by developer FivePoint Communities to spend about $200 million toward building parts of the Great Park, in return for FivePoint being allowed to build homes on its property east of the park."