PPH land purchase guts the ERTC

The Specific Plan for the Escondido Research and Technology Center (ERTC) envisions 1.2 million square feet of research and development facilities on about 80 acres. The research center's main 40-acre pad is its crown jewel for attracting one or two anchor tenants.The center's remaining 40 acres are split between six rather unremarkable pads, the largest remaining pad being about 12 acres. A brewery has already acquired six acres. If the main 40-acre pad is occupied by the new PPH hospital, only about 34 acres of buildable pad area will remain.The project will cease to be an attractive research and technology center. Further, the ERTC's 40-acre crown jewel will be exempt from property taxes because PPH is a government entity, resulting in yearly loss of property tax revenue of at least $400,000.PPH has already purchased 6.6 acres to lock up the main 40-acre pad. Until PPH sells those 6.6 acres, any new tenant to the center is limited to a project that is no larger than about 200,000 square feet on about 12 acres. If the new hospital is placed in the ERTC, Escondido will never have a research and technology center of any significance.

Published in the North County Times:
http://www.nctimes.com/articles/2005/05/21/ opinion/letters/5_20_0521_56_37.txt