Palm Beach County voted to approve a horse community to be built on the Mecca orange groves the county bought for the Scripps Research Institute that did not come to pass in our county.This land is located in the Loxahatchee area in the Western Communities of Palm Beach County Florida.

The county commissioners voted for the following proposal:

• Sell the land to a developer who will build 192 homes on that land
  

• Build a 40 acre Equestrian Center

• The remaining 960 acres would be set aside for open spaces and environmental restoration.

The county would recoup $56 million which will be about half of what they spent on buying and preparing  this land from Mecca Farms when they thought that Scripps was moving to this location. The commission had spent $60 Million for the property in 2004 which was $10 over the appraised value and then they spent $44 million getting the land ready for Scripps.

The plan that is approved to have an Equestrian center built as part of this project will bring tax dollars to the community. The county will never be able to recover the money that they wasted spent on paying over market value for land without the promise from Scripps that they would really make this location their home. During this time of speculation the housing prices and lot prices in this area of The Acreage and Loxahatchee Florida were sky rocketing. 1 acre lots were selling at over $140,000 per acre, now we can not even get $80,000 for these lots. Between Scripps not coming to Palm Beach County and the real estate market declining prices have really dropped in the Acreage and in Loxahatchee.

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Copyright © 2008 By Katerina Gasset, All Rights Reserved.* Palm Beach County Proposes Equestrian Community.*