Talks in Ahmanson Land Swap Snarled : Development: Project could collapse if papers on a deal involving parkland acquisition aren’t ready for signing by March 31.

Nine lawsuits, unexpected financial demands and endless paperwork have snarled negotiations on the complex Ahmanson Ranch deal and delayed public acquisition of thousands of acres of parkland well past a Jan. 12 deadline.

Frustrated by the holdup, the National Park Service’s regional superintendent on Friday set a new deadline: the end of the month.

If papers are not ready to sign by March 31, the federal parks agency will withdraw the $19.5 million it set aside to purchase the open space, said David Gackenbach, superintendent of the Santa Monica Mountains National Recreation Area.

Such a move could scuttle the entire Ahmanson project, key negotiators said.

The Ventura County Board of Supervisors in December gave Ahmanson the green light to build a $1-billion mini-city in the Simi Hills. But the supervisors linked their approval to a side deal, in which entertainer Bob Hope would abandon plans to develop nearby Jordan Ranch and instead sell 7,437 acres of rugged open space to public parks agencies.

In exchange for dropping his dream of a luxury development and world-class golf course on oak-studded Jordan Ranch, Hope will reap an undisclosed financial interest in the Ahmanson development.

With nine lawsuits threatening to delay the project for up to five years, however, the entertainer is having second thoughts about handing over his land, said Donald Brackenbush, president of the Ahmanson Land Co. If he sells the property and then a judge blocks the Ahmanson project, Hope will be left with $29.5 million from park agencies but without additional revenue from the Ahmanson project.

“In Bob Hope’s mind, the $29.5 million is a down payment” for handing over Jordan Ranch, Brackenbush said. “It’s not all billy goat country. It has a substantial amount of value, more than $30 million.”

Hope’s attorney could not be reached for comment.

Before Ahmanson can begin building a single house, Hope’s property must be transferred to the public domain and permanently protected as open space, according to a development agreement approved by Ventura County supervisors in December. That can’t happen if the park service withdraws its money.

Although parks officials have been eager for years to acquire the land, which would secure a critical wildlife corridor, Gackenbach warned that his patience has almost expired.

“It’s ridiculous to have money sitting around in escrow not earning interest,” Gackenbach said. “There is land out there to be bought . . . and prices are more reasonable than ever.”

While insisting they are optimistic the March 31 deadline will be met, principal negotiators this week expressed considerable frustration and concern.

“I thought it was a 100-yard dash and it turns out to be a marathon,” Brackenbush said. Even Fred Maas, a representative of Hope’s development firm, Potomac Investment Associates, has grown increasingly frustrated. Asked if the deal is in danger of collapsing, Maas responded: “I don’t know. It would be a real tragedy if it does.”

In part, the deal has stalled because three-way negotiations are so complex. Legal documents already stack as thick as a Los Angeles telephone directory, Maas said, adding, “When you have more than two lawyers involved, what should take two hours takes two months.”

But the deal faces a more serious hurdle. Nine lawsuits from environmentalists, homeowners and government agencies have been filed to stop the giant development, which would include 3,050 dwellings, commercial space, schools and government buildings.

Objecting to the mini-city because of increased traffic and pollution, Los Angeles County has demanded that the developer pay $20 million to shore up roads feeding into the Ahmanson Ranch, Brackenbush said. The city of Calabasas has insisted on $5 million in compensation for an anticipated strain on its services.

These unanticipated fees place an “enormous economic burden” on the developers, Brackenbush said.

“I keep saying we’ll (close the deal) Monday, Tuesday, before the end of the week,” he added. “I think there’s more than a 50% chance, but I can’t tell you it’s 98%. Every Friday, I hope that by Monday we’ll have an answer.”

Times staff writer Daryl Kelley contributed to this story.

BACKGROUND

The Ventura County Board of Supervisors approved the Ahmanson project--an upscale mini-city with 8,700 residents, a 300-room hotel, two golf courses and its own government facilities--in a 4-1 vote on Dec. 15. Supervisor Maria VanderKolk helped put together the deal, which stipulates that federal and state parks agencies must buy 7,437 acres of open space from entertainer Bob Hope and Potomac Investment Associates before construction on the Ahmanson project can begin. Within three years, Ahmanson Land Co. must transfer an additional 2,633 acres to the public domain.