Tsakapolous Buying Land at Feverish Pace
In anticipation of the possible annexation of Folsom south of Highway 50, developer Angelo Tsakapolous has bought 2,400 acres, or roughly 1/3 of the land Folsom proposes to annex. Tsakapolous paid what is estimated as $12 million for the land, which could be worth almost $50 million if the annex goes through. Slow-growth advocates Folsom Families First are trying to field a special election so that the annexation of land would have to be approved by Folsom voters. More in the Business Journal.
Also See: Related article in 6/18/01 Business Journal