Since 1997, Tsakopoulos has placed options on 2,800 acres south of Folsom and outside the official growth boundary adopted by the county in 1993. Reynolds is betting on a tract he bought next to the proposed Lent Ranch shopping mall in Elk Grove, and Ose hopes to cash in on 1,060 acres he owns in North Natomas. They aim to buy low and sell high, and they aren't just leaving the outcome to chance. In many cases, these developers and speculators are lobbying elected officials to back off their land-use restrictions, extend sewer lines or take other steps that will boost the value of their properties. I think it boils down to what politicians are willing to go along with.
Critics say elected officials are going along with far too much.
Rampant speculation, they charge, is confounding efforts to plan for growth, adding to problems of traffic congestion, smog, lost open space and overcrowded schools. In Sacramento County, planners estimate there is enough land within the 1993 growth boundary to accommodate 50 years of growth. But since land is so cheap and available on the region's outskirts, speculators see little incentive to invest in established communities. Sacramento County Supervisor Illa Collin is one local leader who worries about the clout of various speculators. They just have a very powerful influence, and anyone who says they don't isn't really being honest with themselves.