There's plenty of "meat" to report on this. So, we've segmented our reporting into three posts. This first two posts focus on the answers from Romspen. the landowner. The third focuses on the town's parks and recreation plan in relation to the Vistoso Golf property.
Please note that all three posting present what the individual said. They are presented without LOVE comment.
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Plan approval puts uncertainty to rest
To many, the most difficult part of the Vistoso Golf situation is the uncertainty it presents. What happens to the land is in "limbo." The Rompsen proposed amendment brings certainty. There will be residential property in six areas, on 87 of the 202 acres. The remaining 115 acres will be a continuous greenbelt pathway system, donated to a yet to be identified entity. This system runs around the perimeter of the property.
The only uncertainty left then is what entity will be responsible for maintaining the pathway system. It could be The Town of Oro Valley, a homeowner association, a conservation trust or other not for profit group. It will not be Romspen.
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Romspen also made it clear what will happen to the land if the amendment is rejected. The alternative, they said, is for the land to lay fallow and to gradually return to desert condition. They will only maintain it to prevent fire hazard. Romspen also made it clear that the land is private property and that those using it now are trespassing. Perhaps they will find a way to enforce this. In addition, though they did not mention this, they will be free to try bring this general plan amendment to future councils.
Won't even make them "whole"
Financially, Romspen claims that the amendment and subsequent land development will not make the company "whole" on this investment. This in contrast to our analysis. They did not provide any substance to back up their comment. Romspen acquired the course as part of a foreclosure on eight courses. This would indicate that they secured ownership at a value which is the debt owed. Generally, this value is far less than the fair market value of the land.
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Tomorrow: Romspen Managing Director explains how proposed amendment will stablize area property values.
Wednesday: Oro Valley's Parks and Recreation Director Kristy Diaz-Trahan discusses that the towns parks and recreation plan does not include the purchase of this land.
