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Why STRATUS STINKS
Timeline
(Highlights from the Austin
Chronicle’s August 9, 2002 chronology)
1974
The Ben Barnes-John Connally partnership
begins to develop the Barton Creek Country Club, golf course,
and conference center as the centerpiece of the swank, 2,200-acre
Estates of Barton Creek in West Austin.
1988
In wake of bankruptcy of Connally and Barnes,
Freeport-McMoRan Inc. buys 2,200 acres of the former Barnes-Connally
development, the Estates of Barton Creek (which include the
Barton Creek Country Club and an 18-hole golf course), for $60
million from Community Federal S&L of St. Louis.
Freeport-McMoRan sells the country club to Robert
H. Dedman and his Club Corp. of America.
Freeport-McMoRan, led by CEO Jim Bob Moffett,
proposes the Barton Creek Planned Unit Development (PUD): a
4,000-acre project with 2,500 homes, 1,900 apartments, 3.3 million
square feet of commercial space, and three golf courses.
1989
Freeport pays $8.6 million for an additional
883-acre tract just east of The Estates and announces its intent
to seek City Council approval on its Planned Unit Development
(the "Barton Creek PUD").
1990
June: More
than 800 people register to address June 7 council in opposition
to the planned 4,000-acre Barton Creek PUD. After an all-night
meeting, council unanimously rejects the PUD; Freeport CEO Jim
Bob Moffett vows to bankrupt the city in legal battles. Citizens
form movement to strengthen the 1986 Comprehensive Watersheds
ordinance, under the acronym SOS: "Save Our Springs."
1992
Feb.:
Freeport-McMoRan helps bring Circle C Ranch out of bankruptcy
by guaranteeing $43 million in loans in return for an option to
buy the development.
April: Barton Creek
Properties, owned by Freeport-McMoRan, files preliminary plans
to build 5,000 houses and apartments and 2.5 million sq. ft.
of commercial development in Barton Creek Estates, says plan
is in compliance with current city water-quality ordinance,
revised last fall.
June: Freeport-McMoRan
transfers its real-estate holdings to a new subsidiary, FM Properties.
Oct.: Barton Creek
Properties files plans to create a municipal utility district
for water and sewer service in its 4,000-acre subdivision southwest
of Austin. City must decide whether to provide service.
Nov.: Austin American-Statesman
environmental reporter Bill Collier resigns to become public
relations spokesman for Freeport-McMoRan Inc.
1993
Feb.: Freeport-McMoRan
Inc. issues purchase offer to Resolution Trust Corp. for 738-acre
Lantana tract.
1994
Sept.: FM
Properties Inc. files suit against city of Austin following
denial of permits under renewed SOS ordinance.
1995
Feb.: Council
rejects "Son of PUD" deal for Barton Creek Estates
proposed by Freeport. Freeport lobbyists begin pushing Austin-bashing
legislation at the Capitol.
April: Environmental
Protection Agency announces that New Orleans-based Freeport
McMoRan Inc. reported the largest releases of toxic chemicals
to air, water, and land of any U.S. company in 1993. Freeport
is under increasing national and international pressure because
of alleged human rights and environmental violations at its
Grasberg mine in Irian Jaya, Indonesia.
May: Freeport lawsuit against
city, asking $75 million in damages, goes to federal court.
Jury finds for Freeport but awards only $113,000. later overturned
on appeal.
Sept.: Freeport
exercises option to buy Circle C, sells residential portions
to Phoenix Holdings Ltd. for $18 million. Gary Bradley is president
of Phoenix Holdings GP Inc., an affiliated company.
Dec.: Exercising
an option under bankruptcy of Circle C Development, FM Properties
Inc. takes control of 1,000 acres of commercial land in Circle
C. Ranch.
Under state legislation passed earlier this year, TNRCC approves
FM Properties plan for water protection in 3,600 acres of development
along Barton Creek.
1996
Aug.: U.S. Court of Appeals for the
5th Circuit rules that the city did not violate constitutional
rights of FM Properties in imposing SOS ordinance on its Barton
Creek development.
1998
May: FM Properties
subsidiary cuts ties to Freeport-McMoRan and changes name to
Stratus Properties Inc., William "Beau" Armstrong
president and CEO.
Oct.: City
Council approves agreement with Club Resorts Inc. requiring
the company to pay the city $475,000 for allowing it to develop
about five more acres at Barton Creek Development than SOS would
allow, and adding restrictions on use of chemicals.
1999
Oct.: In a
victory for Stratus Properties, Texas Supreme Court rules that
parts of Circle C planned in 1985 can be developed under water
quality regulations defined by 1987 state law, though the decision
has little effect on existing development.
2000
June: Texas
Supreme Court declares unconstitutional 1995 law (HB 3193) that
allowed creation of water quality protection zones by large
landowners outside city limits (e.g. Stratus and its predecessors).
2001
Oct.: Fish
& Wildlife approves Stratus Properties' plans to develop
1,253 acres in Circle C, saying development would not adversely
affect endangered Barton Springs salamander.
2002
Aug.: Council
votes 6-1 to approve the agreement allowing Stratus Properties
to develop 1,273 acres in Circle C, effective as of Aug. 15.
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