As the weather has improved and finally begun to get warmer, the snow has melted and there is some good news to report. The Developer has signed a contract with LP Excavating after many months of negotiations and bidding. The contract is for the completion of the bonded public improvements. These improvements include the public portions of sewer, water, and streets as well as completing Woody Mountain Road and the offsite water tank. This is a part of what still must be completed, but this is a major step toward getting Presidio in the Pines back on track. Equipment is on site and working on various parts of the subdivision at this time. As soon as a schedule is available, we will update this website to reflect the progress being made.
The funds needed to complete the entire subdivision are still pending a ruling on the business plan that has been submitted to the bankruptcy court.  The next hearing on the business plan is scheduled for April 14th.  We are anticipating that the Business Plan will be resolved to the benefit of Presidio in the Pines, buyers, builders, contractors and creditors.
As we finally progress with the public improvements under way, ability to deal with alternative lenders for existing buyers and future sales activity will improve dramatically.  We still need some assurance that the site development work will continue making it more attractive to new and existing lending sources.