Leesburg commissioners approved ordinances that opens the door for Villages to expansion of their massive retirement community Leesburg. It’s about Tax revenue!
Ordinances for annexation, rezoning, a comprehensive plan. They affect parcels in the Villages of West Lake of 2,845 acres generally located near County Road 48, County Road 471 and the Florida Turnpike area.
Commissioners approved development agreements for the 1,382-acre parcel. The agreement for Area A establishes procedures for both the city and The Villages Land Co. as the development moves forward. It calls for the area to be fully developed over the next 30 years and it sets design standards, land uses and processes moving forward.
The agreement also calls for up to 7,900 residential homes and 535,000 square feet of retail space. Some of the property also can continue to be used for agricultural.
Area B is land The Villages will build on at a later time. But when that day comes, approval already has been given for 6,185 residential homes, 100,000 square feet of office/government space and 1 million square feet of retail space.
The Villages finalize a $7.54 million dollar purchase of land from the city last year that had been in the works for several months. The city had to pay back the Environmental Protection Agency about $3.3 million, which meant it netted about $4.1 million on the deal that City Manager Al Minner labeled as “economic engine” for years to come. It’s unclear exactly when the Villages Developer plans to start putting homes and commercial businesses on that property, which also is located north of CR 470 near the Florida Turnpike and Southern Oaks in Sumter County.