Barring any unforeseen circumstances, the city of Bellevue will annex 100 acres of undeveloped land in Slaughterhouse Canyon, northeast of downtown. About half of those acres, plus additional property in the city limits, is planned for a residential development called the Strahorn Canyon Ranch.
Owned by Ketchum-area real estate agent and developer Jeff Pfaeffle, the property is one of three separate blocks of land Bellevue was considering for annexation last year. Harry Rinker and John Scherer both pulled requests to annex land on the south side of the city.
The city has hosted 16 meetings on the issue since an annexation application was filed by Pfaeffle early in 2005. The council passed an annexation agreement with the developer Thursday night, with minor conditions, including language changes to a bank agreement and resolution of a survey dispute. The council also wants to judge the possible environmental hazard an open mine could pose on 60 acres of nearby land Pfaeffle is giving to the city as part of the agreement.
Under Pfaeffle's development proposal, up to 150 houses would be built during four distinct construction phases.
As written in the Strahorn annexation agreement, Pfaeffle will give the city $5,146,300 in cash, property and city infrastructure improvements, mainly in exchange for hooking up to city services and being able to develop under city zoning codes.
Under the proposed agreement, Pfaeffle will give the city $500,000 in five years, or when he begins Phase 1 of the development. He will then pay the city $250,000 every five years, or at whatever time he begins each of the consecutive three phases.
"If the market does not warrant development, the city of Bellevue will still receive benefits under this agreement," Pfaeffle said.
Specific plans for the residential development will be reviewed at a later date by city officials.
The council will hold the second of three public readings of the annexation annexation agreement on Jan. 8, 2009. It would be officially approved after the third reading is performed with no legitimate objections.