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| Real Estate & Land |
The Politics of the Deal
Michael Sisk
06/01/2004
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The landowner became so frustrated
with this expensive, seemingly endless process, that after finally winning
approval to rezone, he sold the property without ever actually recording his
plan with the county. As a postscript, DiFrancesco reports that the new owner of
the property (one of his clients), by working closely with city officials, has
won two five-year extensions to the previous owner’s rezoning approval—an
unprecedented accommodation by the town.
Even with local politicians and the
community behind a deal—and often with their vociferous support—the long arm of
environmental regulation can prove challenging. The most common issue is
wetlands management. If an environmental engineer designates more of a property
than expected as wetlands or watershed, the developer will have to return to
square one. The discovery of a threatened or endangered species (such as a
spotted owl) can also be an obstacle, placing the property on the radar of
environmental activists. “A well-funded environmental group can really hamstring
a deal,” says DiFrancesco, “because there are so many agencies
involved.”
Partnering with a developer who has proven expertise in topography
and environmental regulation is obviously essential to success. But the quirks
that can crop up during a development project go well beyond those of
topography. A historical structure on the property can influence the kind of
work done, as well as the tax breaks available. Occasionally, something
completely unexpected—the discovery of Native American burial grounds, for
instance—comes to the fore and has to be accommodated. The Beitler Group’s
Shapiro has encountered burial grounds twice in projects he has developed. “Both
times, the area had to be left undisturbed, one time with a fence, and once with
a plaque denoting its significance.”
DiFrancesco observes, “No matter how
much due diligence is done ahead of time, some things always come up in the
process. Development is a dynamic process.” Additional Information
 The Ideal Partner
 An Inclusive Approach
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