Sans Souci Bay: Too Good To Be True?

Much has been made of the recent council decision to vote the Sans Souci Bay project down.

Our council elected to decline, despite a very enticing offer from the developer...

which could have paid for all city infrastructure costs (est. $6 million) to support the project.

On the surface, the offer seemed almost too good to be true, and that's because it was.

Skeletons in the closet or flys in the ointment:

1. If a PDP is approved (including the RD zoning) and if "substantial construction" is NOT "commenced" within two years of project approval the PDP would become null and void.

However, any rezoning; vacation(s) of plat; or variances approved during the PDP shall remain in full force and effect.

In other words, if after receiving the PDP, the property were flipped or resold, the new owner would then be...

completely free, without question, to exercise any and all of the unfettered provisions of the RD zoning district.

2. Over 60% of the Sans Souci Bay site already lies within the CHHA (Coastal High Hazard Area).

It is known that the National Hurricane Center is currently reviewing the CHHA and the boundary delineating the CHHA will be elevated a minimum of one foot...

and possibly as much as two feet... the affect will be to move the boundary inland to include most it not all of the Sans Souci site.

The Nattering One muses... A hypothetical... I bought this swamp land and I know that all of the parcel will soon be in the CHHA.

But, if I get the city to grant me variances under the PDP, I can flip it to an unsuspecting investor at a much higher price.

Granted the new owner will be able to exercise all of the variances within the PDP, but the impending CHHA re designation would severely cut into the market value.

So if I make the city an offer they CAN'T REFUSE, as in we will break ground within 60 days and pay for ALL CITY EXPENSES and INFRASTRUCTURE...

we can expedite this little land scam at a nice profit, and never actually break ground.

If it sounds too good to be true, it usually is. Hat tip and Holla out to our man at City Hall, Paco... Orale ese vato!