BOND WILL AID GOLF COURSE.Byline: Jim Skeen Daily News Staff Writer The City Council agreed to use redevelopment bond money to fund $2.5 million in improvements to assist the development of the long awaited Rancho ran·cho n. pl. ran·chos Southwestern U.S. 1. A hut or group of huts for housing ranch workers. 2. A ranch. Vista golf course. With the city agreeing to contribute to the project, Rancho Vista developer Gregg Anderson said work will begin this spring on the $8 million to $10 million golf course, which would extend west from 30th Street West and Avenue N-8. Anderson expects the course will be ready for play in September 2000. ``My company will build a golf course we'll all be proud of,'' Anderson said. Under the bond financing proposal, the average bond payments of $230,000 would be paid through the tax increment To add a number to another number. Incrementing a counter means adding 1 to its current value. - the increase in city property tax revenue resulting from new construction in the area. Rancho Vista would be required to complete the golf course by 2002 or pay damages of $230,000 annually. The golf course was approved as part of the 1988 specific plan for the Rancho Vista housing development, a 1,307-acre planned community Noun 1. planned community - a residential district that is planned for a certain class of residents residential area, residential district, community - a district where people live; occupied primarily by private residences northwest of 30th Street West and Avenue P. Construction of the golf course was delayed by the recession and building slowdown in the Antelope Valley This article is about the Los Angeles County region. For the census-designated place in Wyoming, see Antelope Valley-Crestview, Wyoming. The Antelope Valley in the early 1990s. The specific plan did not set a deadline for when the course would be built. The city agreed to provide the bond funding at the council's meeting Wednesday. The bond issue actually will be for up to $3.75 million. By choosing a $3.75 million bond issue to fund $2.5 million in improvements, the city will not have to make bond payments until 2004. That will allow time for more development to occur, city officials said. Rancho Vista has approximately 500 homes in development now. The area needs 800 to 900 homes built in order to generate enough tax increment to meet bond payments, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. city staffers. Items to be paid by the bonds include the construction of a water line, grading for storm drainage, excavation and reconstruction of two existing sewer lines Noun 1. sewer line - a main in a sewage system sewer main main - a principal pipe in a system that distributes water or gas or electricity or that collects sewage , construction of storm retention basins Noun 1. retention basin - a storage site similar to a detention basin but the water in storage is permanently obstructed from flowing downstream catchment area, catchment basin, drainage area, drainage basin, river basin, watershed, basin - the entire geographical and storm drainpipes, landscaping improvements at Avenue N-8 and 30th Street West, traffic signs and paving of public public streets, and the installation of curbs, gutters and sidewalks. |
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