Montana’s Largest Planned Development Bankrupt

By Lucia Stewart, 9-11-08

According to a story in the Helena Independent Record, the Glen Ranch, slated to be a 2,599-lot subdivision, is projected to increase the population of City of Three Forks by threefold. But the developer’s bankruptcy filed this week will decelerate the proposed two golf courses, new water and sewer facilities, and town center.

And it all came down to who pays for the road improvements, reports writer Marga Lincoln.

Broadwater County Commissioners required Steve and Susie Cavanaugh to pay for the road improvements surrounding the development as a condition to approval. With an outstanding bill of $258,399, the commissioners rescinded subdivision approval in February 2008, and barred Rolling Glen from selling or transferring lots or homes, the story says.

With Rolling Glen Ranch situated more than eight miles from pavement on Hwy 287 (the connector from I-90 to Helena, 26 miles from Bozeman), it proved to be the clincher in developing this large open space off a county road.

Cavanaugh argues, in a subsequent lawsuit after the February retraction, that other developers were supposed to share the road bill, according to the story.

“Things the county has done and statements they’ve made have made it virtually impossible to sell lots,” said Steve Cavanaugh, reported the Independent Record after the bankruptcy filing.  “It’s taken away our ability to operate as a business.

He also blames Broadwater County for his financial woes, streamed with foreclosures, outstanding bills and taxes, the story says.

The project’s master plan — coined a Field of Dreams by the Bozeman Daily Chronicle — was approved by Broadwater County Commission in February 2007, with more than 35 conditions and more then 30 phases that will need approval by the Commission over its projected — potentially laborious — 40-year build-out.