Wednesday, July 7, 2010

Spring Canyon Ranch in foreclosure

Croy Canyon Ranch care facility will move forward


By TONY EVANS
Express Staff Writer

The proposed 117-home Spring Canyon Ranch development in Democrat Gulch west of Hailey is in foreclosure. The Croy Canyon Ranch Foundation's planned assisted-living facility was expecting to piggy-back on the development's sewer line extension, but foundation representatives are saying their plan will move forward.

The city of Hailey agreed to extend sewer services two miles into Croy Canyon to make both developments possible, but that agreement is set to expire in December 2013.

Spring Canyon Ranch developer Mark Meyers struck a deal with the city in 2008 to extend city sewage services in exchange for $750,000, the construction of a $1 million bridge and impact fees in the amount of $3,500 per unit for the 115-lot development.

City Attorney Ned Williamson told the City Council on Monday, June 28, that the development is in foreclosure and that a "sunset clause" on the sewer line extension agreement would likely kick in at the end of the six-year term limit.

"I expect the agreement to expire," Williamson said.

Meyers donated $250,000 in February 2008 to the nonprofit Hailey Ice organization to boost its 10-year effort to build a public ice rink in Hailey. The developer also agreed to donate 10 acres of property to the Croy Canyon Ranch Foundation to assist with development of a planned senior-care facility near Democrat Gulch in Croy Canyon.

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Hailey Ice has since secured a future home at the rodeo grounds in Hailey, but the Croy Canyon Ranch care facility was planned with the hope of tapping into the sewer line once it was extended to Democrat Gulch.

Croy Canyon Ranch board President Jeanne Cassell said in an interview that she expects construction of the assisted-living facility to proceed on its 20-acre site on Croy Canyon Road despite the financial troubles facing Spring Canyon Ranch.

"Although we would have greatly appreciated the support of Spring Canyon Ranch, our business plan is sound without them," Cassell said. "We will be working with the city of Hailey on a block grant to help finance our sewer and water connection, and our fundraising campaign for building the facility will continue. "

Tony Evans: tevans@mtexpress.com




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