Great Park Directors Applaud Proposed Enhancements to Development Plan

Orange County Great Park & Heritage Fields, June, 2006

SEPTEMBER 15, 2006 – IRVINE, California – Directors of the Orange County Great Park Corporation responded enthusiastically to Heritage Fields, LLC’s, conceptual proposal to build a bigger, better, faster Great Park after receiving Heritage Fields presentation at its board meeting yesterday. The new proposal would give an additional 402 acres of publicly owned land to the City of Irvine, and more that double the revenues available to build the Great Park. The Irvine City Council will now begin the process of evaluating a new development agreement for the Great Park. Initial public reaction to the plan, which was presented to the Irvine City Council on September 12, was overwhelmingly favorable.

“This proposed plan offers many great financial opportunities that allow us to move forward,” said Sukhee Kang, Director, Great Park Board Corporation. “Before, we asked if the original plan would allow us enough money to get the job done. Now we have double the funds we need to get the job done, before schedule and without any burden on taxpayers.”

The new Great Park plan will offer many new amenities not offered previously. Heritage Fields will finance the renovation of the golf course, build a new clubhouse for public use and dedicate the entire facility to Irvine at no cost to the city. 200 million dollars will be advanced by Lennar from future tax increment funds for the construction of public facilities such as a transportation center, a multicultural center and a center for non- profit organizations. There will also be an increase in funding for the maintenance and operation of the park.

“The magnitude of resources now provided to create the Great Park is astounding,” said Michael Pinto, Great Park board member. “This is truly a dream come true.”
Under the proposed plan, the construction of the Great Park would be accelerated and phase one is expected to open in 2009.

The Orange County Great Park will be a major metropolitan park and the focal point of redevelopment of the 4,700-acre former Marine Corps Air Station at El Toro. The Great Park will include extensive natural areas and open space in addition to recreational and cultural uses. Much of the acreage surrounding the Great Park will be revitalized by the Lennar Corporation and will include residential, educational, commercial, and retail uses as well as other supporting facilities.

For more information about the Orange County Great Park, go to www.ocgp.org.

Press Contacts:
Maryann Maloney
(949) 375-0856