PRESCOTT, Ariz. -- Sen. John McCain championed legislation that will let an Arizona rancher trade remote grassland and ponderosa pine forest here for acres of valuable federally owned property that is ready for development, a land swap that now stands to directly benefit one of his top presidential campaign fundraisers].
When McCain's legislation passed in November 2005, the ranch owner gave the job of building as many as 12,000 homes to SunCor Development, a firm in Tempe, Ariz., run by Steven A. Betts, a longtime McCain supporter who has raised more than $100,000 for the presumptive Republican nominee. Betts said he and McCain never discussed the deal.
The Audubon Society described the exchange as the largest in Arizona history. The swap involved more than 55,000 acres of land in all, including rare expanses of desert woodland and pronghorn antelope habitat. The deal had support from many local officials and the Arizona Republic newspaper for its expansion of the Prescott National Forest. But it brought an outcry from some Arizona environmentalists when it was proposed in 2002, partly because it went through Congress rather than a process that allowed more citizen input.
Although the bill called for the two parcels to be of equal value, a federal forestry official told a congressional committee that he was concerned that "the public would not receive fair value" for its land. A formal appraisal has not yet begun. A town official opposed to the swap said other Yavapai Ranch land sold nine years ago for about $2,000 per acre, while some of the prime commercial land near a parcel that the developers will get has brought as much as $120,000 per acre.
A LOT more....
http://www.washingtonpost.com/wp-dyn/content/article/2008/05/08/AR2008050803494.html?wpisrc=newsletter
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