County OKs 20-year agreement with Diamond-Dorado Retail Center
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Tuesday, Dec. 18, the board followed District 3 Supervisor Jack Sweeney’s recommendation to create a special revenue fund for construction and improvements of several sections of county-controlled roads serving the area. Citing existing monies and anticipated revenue, Sweeney described a need for $30 million to complete the county’s road projects related to the DDRC. He has asked the department of transportation to “verify that the funds are or shortly can be available for accumulation to such a special account.”
El Dorado County Supervisors unanimously approved a Development Agreement for the Diamond Dorado Retail Center Dec. 11. The agreement extends for 20 years and clears the way with rezoning and General Plan amendments for development of 27.62 acres between Highway 49 and Missouri Flat Road. A four-lane Diamond Springs Parkway will eventually connect the two thoroughfares and become the main access to the retail center.
The DDRC, as it’s often abbreviated, is the proposal of Leonard Grado’s Palos Verdes Properties and has been in the works for about seven years.
El Dorado County Development Services manager Roger Trout summarized the purpose and value of the agreement in an e-mail to the Mountain Democrat Thursday afternoon.
“It is a contract between the developer and the County,” Trout wrote. “We use ...
http://www.mtdemocrat.com/news/county-oks-20-year-agreement-with-diamond-dorado-retail-center/
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