Loan Sought to Preserve Prime Land for Park

Developers of a 43-mile-long regional park that would stretch from the Del Mar coast to the Julian foothills have two weeks to find a benefactor to help them preserve 1,500 acres near Ramona as public parkland.

The property--virgin oak woodland between canyon ridges that is rich in wildlife--would be suited for campgrounds, a school camp, hiking and horseback riding.

“It’s as pretty a piece of property I’ve seen in San Diego County,” said Susan Carter, project coordinator for the proposed San Dieguito River Valley Regional Park.

The problem, she says, is that the property may slip through the agency’s fingers if someone doesn’t come forward with a $1.8-million loan.

The property owner wants to sell the land to the agency, and several government agencies seem “95% sure” they will forward the money for the parkland.

But that bureaucratic action is several months off, Carter said.

Meanwhile, the property owner stands to lose the land, which is is worth about $30 million, she said.

A $1.8-million balloon mortgage payment is due Jan. 20, she said. If the owner fails to get the money by Jan. 15, he will be forced to sell to a buyer who has indicated he will put homes on the property.

“Developers are our nemesis,” Carter said. “We want to save the property from foreclosure, so we can come back and buy it for park use, so it can be maintained as open space.”

The property is north of Ramona in an area known as Boden Canyon, a valley just west of the more widely known Pamo Valley, where environmentalists have successfully stymied the construction of a dam and water reservoir because it would endanger wildlife habitats.

“Boden Canyon is absolutely beautiful in its natural state and we want to keep it that way,” Carter said. “When I walked the property the other day, I saw deer that have never been hunted and didn’t even scatter when they saw me.

“I can’t imagine anything greater for the San Dieguito River Park than this piece of land,” she said.

The owner, whom Carter declined to identify, had intended to develop the property with estate homes, but decided he would rather sell it to the park agency.

“He said anybody can subdivide, but how many times can you make a contribution to society, like providing parkland?” Carter said. “If someone came forward with the loan, repayment would be made in months, versus years.”