THE VIRGINIAN-PILOT
Copyright (c) 1994, Landmark Communications, Inc.
DATE: Wednesday, December 14, 1994 TAG: 9412140485
SECTION: LOCAL PAGE: B3 EDITION: FINAL
SOURCE: BY KAREN WEINTRAUB, STAFF WRITER
DATELINE: VIRGINIA BEACH LENGTH: Short : 50 lines
In a move that had been expected for weeks, the City Council voted Tuesday to buy a 1,200-acre failed development project known as Lake Ridge.
The city will buy the property, which lies behind the Municipal Center on Princess Anne Road, for $9.5 million, or just under $8,000 an acre.
No plans have been developed for the property, but possible uses include an amphitheater, two or three schools, public park space and possibly a golf course. Councilman W.D. Sessoms Jr. even dreamed aloud about using the property to lure a National Football League team to the Beach.
Lake Ridge remains empty, despite a dozen years of dreams that included a minicity on the site. Several of the city's best-known figures, including developer R.G. Moore and former city councilwoman Nancy Creech, took heavy financial losses when the project failed.
The city will tap a variety of funds for the purchase, including money originally earmarked for parks and recreation; the Southeastern Expressway land acquisition; the 30th Street Entertainment Center; the Social Services building renovation; and access-improvements for the failed horse-track site.
Buying the land will eliminate the need for $6.5 million in site acquisition now included in the city's capital improvements program for schools, roads and other public projects, according to the council proposal.
But not all the council members agreed that the $9.5 million would be well-spent.
Councilman John D. Moss tried to divert the money into the school system, but his substitute motion received only three votes.
``The public needs to realize we could have reduced taxes'' and eliminated the need for a tax increase next year, instead of buying Lake Ridge, Moss said. ``Children are much more in need of that than Lake Ridge.''
Council members Robert K. Dean and Nancy K. Parker sided with Moss in opposing the Lake Ridge deal. All other members voted in favor of the purchase, except for W.W. Harrison, who abstained because his law firm represents NationsBank, which owns the land.
Those who supported the deal said the land was being sold so cheaply the city could not afford to pass up the opportunity to buy it.
``The answer to our economic success is to emulate successful cities that have gone out and attracted business,'' said Councilman Linwood O. Branch III. ``Ultimately, that's the long-term answer to supporting schools.''
KEYWORDS: VIRGINIA BEACH CITY COUNCIL by CNB