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City council denies developer’s $1.36 million request 

Chandler Ranch

Photo of the Chandler Ranch – Panoramio

Council unanimously rejects Chandler Ranch’s request for loan forgiveness

City incurred $1.36 million in costs related to Paso Robles housing development

The city council Tuesday turned down a developer’s request to forgive over a million dollars in debt to city. Chandler Ranch developer Larry Wurth’s proposal was denied in a unanimous 4-0 vote of the council.

The city of Paso Robles has accrued $1.36 million in costs related to development plans for the Chandler Ranch property on the east side of Paso Robles. The 827-acre project was planned over the last 10 years. It would have built 1,439 new homes.

The debt was set to be repaid to the city after home are built on the project, however the future of the project appears to be in jeopardy. In December of 2012 a report prepared by development expert Howard Hamlin for the owners of Chandler Ranch indicates the project may no longer be feasible. “Howard’s review informed us that the project was financial unfeasible and un-marketable as it was designed,” Wurth wrote to the city.

The city forwarded a statement of charges earlier this year with an accounting of expenses. Wurth replied to the city in a letter received July, 2013 in which he asked for forgiveness of the debt.

“We have reviewed the detail and don’t agree with the past charges, and then interest should be passed along to the project…” he wrote. “We are asking the city to reconsider given the circumstances.”

Top stories Sept. 19, 2013

 

 

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About the author: Publisher Scott Brennan

Scott Brennan is the publisher of this newspaper and founder of Access Publishing. Follow him on Twitter, LinkedIn, or follow his blog.