The $65-million project in northeast Austin is awaiting approvalof a 99-year lease of raw public parkland around Lake Walter E.Long. The project calls for park improvements and affordablehousing as well as a luxury golf course. The lease of a maximum of400 acres goes before voters Nov. 7. If approved, the next stage isto seal lease terms and possible abatements.The Smart Growth cofferwould cover costs for relocating power lines, installing road,water and sewer infrastructure and guarantee waivers for someconstruction fees plus an expeditious site review process. Austinis known for its involved review process, which some developers sayis a major stumbling block to projects. It is being discussed topump possibly $2.8 million per year into the funding pool thatwould target affordable housing and park projects.

The resort is being proposed by Gagne Development Co. of NewYork and local developers Larry Beard and Mark Levy. The projectcalls for a 250-room luxury hotel and two 18-hole championship golfcourses among the traditional fitness and retail amenities found atupscale resort complexes.