Thursday, October 29, 2009

Colorado New Homes - Metro District to own mansion

With historic Highlands Ranch site comes haunted lore

The Highlands Ranch Metro District Board of Directors recently voted to pursue ownership of the Highlands Ranch Mansion, a historic estate that housed some of the area's first settlers.

The metro district will negotiate with Shea Homes to acquire the mansion, with plans to renovate and operate it for the benefit of the community, said Tom Hoby, director of parks, recreation and open space.

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The decision follows a year-long effort to gather feedback from residents on ownership of the mansion and how it should be operated. According to a citizen survey conducted by the metro district, 88 percent of respondents support the district owning the mansion.

Negotiations are expected to be completed by March.

"It is the jewel in the crown of Highlands Ranch," said Caroline Smith, president of the Highlands Ranch Historical Society. "I'm delighted the metro district stepped forward to take it on."

Smith said the 22,000-square-foot mansion was home to various families throughout the early days of Highlands Ranch. It was built in 1891 by John W. Springer to reflect the style of a Russian castle.

Like many structures rich in history, the mansion has its own tales of ghostly lore. Smith said the ghost of Julia Kistler is rumored to haunt the halls of the mansion.

Julia was the daughter of Frank E. Kistler, who purchased the mansion in 1926. When Kistler divorced his first wife, she moved out with all the children except Julia, whose adoration of her father prompted her to stay behind.

Kistler remarried shortly thereafter and the story goes that he did not return his daughter's devotion and she spent many days weeping in her bedroom. The sobs of her ghost are said to echo through the mansion's halls today.

Although she has never seen the ghost herself, Smith said people have reported seeing a girl peer out of the mansion's windows when there was no one inside. Another story is that a group of visitors were startled to hear an ancient grandfather clock chime midnight.

"They were just kind of astonished, because the clock does not work," Smith said.

Smith and other historical society members lead tours of the mansion during community celebrations such as Highlands Ranch Days. On one such occasion, Smith was standing in the ballroom by herself after finishing up a presentation and smelled a strong fragrance of roses, even though all the windows were tightly shut.

"I just said to myself, 'Oh, you've been here too long,'" she said.

But later, a teacher came up to her and commented what a nice touch it was to have the rose scent in the room.

"It just sent little chills down my back!" Smith recalled. "I believe that it was Julia, and it was her way of telling me she she was happy to have children in the house."

Ghost or no, Smith said she thinks it is important to have younger generations experience the mansion.

"I want young people to feel at home there," she said, "so when they grow up, they will have fond memories and want to protect it."

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Erin Feese: 303-954-2953 or feesee@yourhub.com

Wednesday, October 28, 2009

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Monday, October 19, 2009

$10k California Tax Credit may Return!

The $10,000 state tax credit for new-home purchases could be revived soon for a limited-run engagement.

Last week, the California Senate passed a bill 35-1 that would provide $30 million in tax credits to about 4,000 additional new-home purchases. The bill now moves to the Assembly floor, which could take it up as early as Monday.

A spokesman for Gov. Arnold Schwarzenegger says he "supports the idea of this bill."

In an earlier bill, the Legislature made $100 million in state tax credits available to anyone who bought a new, previously unoccupied home in California on or after March 1, 2009, and before March 1, 2010. The $10,000 credit must be spread over three years and can offset only up to $3,333 a year in state income tax.

The money was allocated on a first-come, first-served basis, and it went fast. Less than four months after the effective date, the Franchise Tax Board had received 11,925 applications representing more than $100 million in credits. It shut the door on new applications at midnight July 2.

Although it doled out $100 million in credits, the tax board estimated that about $30 million would go unused because many buyers could not claim the full $10,000.

To get the entire benefit, the buyer must owe at least $3,333 in state income taxes in 2009, 2010 and 2011. A buyer who owes only $1,000 in one of those years loses the remaining $2,333 for that year - it can't be paid out in cash or carried into future years.

The original bill didn't allow the tax board to reallocate unused credits to other new-home buyers, but the new bill - SBX3-37 - essentially would.

Pushed by the home builders, it would provide $30 million in tax credits to two groups of new-home buyers.

The first is about 300 people who bought a new house and got their paperwork in to the Franchise Tax Board by July 2 but missed out on the credit because the money was gone.

The other group includes people who buy a new house after the bill is signed and before March 1 - but only until the $30 million runs out, which could be long before March.

People who buy a new home after July 2 and before the bill is signed are out of luck.

Given that only 70 percent of the home credit is typically used, about 4,285 new-home buyers would qualify for the additional $30 million.

Sponsors say the bill is necessary to "facilitate California's economic recovery, a large part of which is the maintenance of the new-home tax credit." It was written as an "emergency statute necessary for the immediate preservation of the public peace, health, or safety."

Democrat Loni Hancock of Berkeley was the only senator to vote against the bill. She couldn't see "offering subsidies to potentially well-off people buying expensive homes while we are cutting the heart out of education," says Larry Levin, Hancock's spokesman.

She also questioned the fairness of offering a subsidy only to new-home purchases when there are so many foreclosed homes on the market.

When the bill was first introduced as AB765 by Assembly members Anna Caballero, D-Salinas, and Jose Solorio, D-Anaheim, it would have provided $200 million in additional tax credits on top of the original $100 million. But as the state's finances worsened, the increase was whittled down to $30 million.

When the Senate took up the bill last week, Republicans refused to support it (and other bills that needed a two-thirds majority) unless it had a Republican as lead sponsor. So the contents of AB765 were moved into SBX3-37 with Sen. Roy Ashburn, R-Bakersfield, as the principal co-author.

Net Worth runs Tuesdays, Thursdays and Sundays. E-mail Kathleen Pender at kpender@sfchronicle.com. Read her blog at sfgate.com/blogs/pender.

Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/10/19/BUQA1A7QLE.DTL&type=business#ixzz0USCJgSLI

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