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Owner demands rezoning, and fast

But the proposal for Pine Ridge Estates is flawed, planners say.

By BY CHUIN-WEI YAP
Published June 9, 2007

DARBY - It's a sign of the times.

The lawyers for Pine Ridge Estates, a 475-acre property at Darby Road and Interstate 75, want it rezoned as soon as possible so a developer can put 300 homes on it.

Nothing surprising so far, but the landowner, ETR Pasco LLC of Miami, is also struggling with bank loans and could lose the property, its creditors say.

Commercial Capital Resources, a Miami bank, loaned an undisclosed sum to ETR, a building company owned by Eric Reardon, who could not be reached for comment Friday.

ETR defaulted on the loan, and Commercial Capital Resources is scheduling an auction of the Darby property to recover the loss, unless ETR can produce a buyer in time. County records show ETR paid $22-million for the property.

"Whoever buys the company would ... probably continue the development or sell the land," said Steven McCord of Commercial Capital Resources. "We probably will take over the company."

If that happens, McCord said, the Darby property would probably be sold "late this year or early next year."

Commercial Capital Resources had already postponed an April 30 auction for Pine Ridge Estates, but is scheduling another for the end of June, McCord said.

Meanwhile, Reardon's attorneys, Tew & Associates, are pushing to speed up the rezoning.

"We simply ask that zoning staff cooperate with, rather than obstruct, the approval process," Joel Tew wrote in an e-mail to county staff May 22. "We are not feeling that cooperation so far."

Tew could not be reached for comment Friday.

County planners are uncomfortable with many aspects of the proposal for Pine Ridge Estates.

ETR wants 300 homes. Planners think the area can handle only up to 179.

The Pine Ridge Estates plan also doesn't fit the county's land use designation, staff argue. It's supposed to have mixed uses, but the plan calls for only single-family, half-acre home lots.

The development plan also does not address buffering, setbacks, lighting or building heights, zoning administrator Debra Zampetti wrote May 24.

Tampa Bay Water has concerns, too.

"Staff objects to the high density of septic tanks within the drainage basin of the Hillsborough River," Tampa Bay Water's Paula Dye wrote in a May 18 letter to Pasco.

When Zampetti suggested delaying the rezoning hearing, Pine Ridge's attorneys snapped.

"I will not waste either of our time in attempting to convince you that a continuance is not warranted," said Richard Millian, a Tew & Associates lawyer. "I have learned from county staff in the past that I cannot stop you from making your recommendation. If we do not receive (the rezoning) conditions from staff ... we will prepare our own conditions and advise commissioners that we do not consent nor agree to the continuance."

The proposal is scheduled to go before staff planners June 21, the Planning Commission on July 11 and the County Commission on Aug. 7.

[Last modified June 8, 2007, 21:40:20]