Thursday, February 04, 2010
Developer seeks extension for Explore Park
Larry Vander Maten says he has been unable to secure financing to redevelop Explore Park.
Florida developer Larry Vander Maten officially requested another extension this week for his plan to redevelop Virginia's Explore Park into "Blue Ridge America."
Vander Maten's agreement with the Virginia Recreational Facilities Authority, originally signed in 2005, gave him until June 13 of this year to begin construction on what he has dubbed an "overnight family vacation destination." The facilities authority is the board that oversees the park.
The lease allowed a three-year "inspection period" before the developer was to start building, but it also provided for extensions for two more years if he needed more time for financing or other approvals.
Fred Anderson, chairman of the recreational facilities authority board, said he received a letter Tuesday in which Vander Maten reiterated that financing for the $200 million project is not currently available, and requesting another year's extension before beginning construction.
Anderson said the request will go before an authority subcommittee on Tuesday. That body is charged with making a recommendation to the full board to accept, reject or seek a modification of Vander Maten's request.
Whatever decision that group makes may be influenced by legislation still pending in the General Assembly on whether to extend the locally-based authority's oversight of the 1,100 acre park in Roanoke County and Bedford County -- or let it revert to state control.
The authority is supposed to operate an educational, recreational and conservation program on the property to maintain its control of the site.
A state Senate subcommittee is scheduled to take up the question of extending the authority's life today, and its chairman, John Edwards, D-Roanoke, has said he wants any extension to be tied to a December deadline for a viable "Plan B" in case Vander Maten does not proceed with his development.




