CALEXICO — A group of investors with more than 130 acres of farmland near the intersection of Cole Road and Highway 98 wants to sell and has found a buyer.
There is one catch.
Lee Smith, one of the investors hoping to sell the land to David Shterenberg of Steren Electronics, said the development of the land must begin no later than June.
Development cannot begin until the Calexico Planning Commission and Calexico City Council sign off on tentative maps and impact studies for the project.
The Planning Commission could decide in upcoming weeks to withhold approval and require more studies, according to Tom DuBose, an El Centro development consultant.