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Industrial project now in city's hands

County officials are set to vote today on the final details of a property contract. But Largo officials still must approve land use changes.

By LORRI HELFAND
Published June 7, 2005

LARGO - The county is voting on resolutions today that could expedite the closing of the 29-acre parcel near Crossroads Mall.

The County Commission approved a contract for the sale of the property to Cepcot Corp., a wholly owned subsidiary of Pinch-A-Penny, on April 19 for $4.68-million.

The company, founded by Fred Thomas, needs the city of Largo's approval for land use changes so it can build a 40,000- to 50,000-square-foot office building, a 200,000-square-foot warehouse and distribution building, and a 150,000-square-foot building on the site.

But Boulder Venture South LLC, which bought the nearby Crossroads Mall site in May to build a mixed-use center, says an industrial facility doesn't belong next to the project.

For Thomas' project to move forward,the city also must approve a land use change from residential urban and preservation to industrial limited.

Mike Meidel, Pinellas County economic development director, said a closing date has not been set, but a couple of measures were necessary to make finalizing the sale easier when the time comes.

Today, the commission will vote on whether to remove a clause that would have the property revert to the county if certain economic goals aren't met. Meidel said that clause needs to be withdrawn so that the company will be able to secure financing.

The commission also will decide whether to give commission Chairman John Morroni permission to sign the deed so that Meidel will be able to authorize the sale without the commission's presence.

Largo staff members support the company's proposal, but the City Commission is mixed on whether to allow the necessary land use changes.

Largo City Commissioner Gay Gentry said the industrial headquarters doesn't mesh with the city's long-term goals for the area and that Thomas should look for another site.

"I don't see why that one particular spot is that important," she said.

Largo Mayor Bob Jackson said Thomas' company would be right for the location.

"I'd hate to see Fred Thomas move to Hernando or Pasco county. Cities are spending thousands of dollars to get corporations like this. We have an existing corporation that wants to expand, and that's what we should be looking for," he said.

[Last modified June 7, 2005, 02:15:48]