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From YubaNet.com Regional
PG&E expects to have power installed to the third customer living in the subdivision on Alexis Court early next week - weather permitting. PG&E has worked closely with the County and the homeowners to help facilitate the contract and complete the electrical work left unfinished by the developer.
Editor's note: The DarkHorse subdivision was planned for 223 parcels to be built in four phases. In June of 2007, the county called a default on the infrastructure construction because of the developer's financial inability to complete the work on Phase 3 infrastructure, invoking the surety bonds. Seventy-three of the 83 parcels in Phase 3 remained without electrical power since this utility was not covered under the surety bonds. The planned development has been foreclosed and is now owned by the lenders, Owens Financial. While the county signed the contract with PG&E, over 90% of the cost has been paid by the parcel owners in the form of a special assessment tax (Approx. $3,200 per parcel, with 73 parcels affected). This includes Owens Financial, the lending institution now saddled with most of the parcels in Phase 3 of the DarkHorse project. © Copyright YubaNet.com |