Cedo, a popular research institute in Puerto Peñasco which focuses on marine biology, has entered into a legal settlement with a Scottsdale developer that will keep Cedo in its long time home base. There were questions in regards to if Cedo was going to remain in its current location, as the Developer is building a major condominium project in the area. Under the announced settlement, the developer Clifton Meridian LLC will generously give 5 acres of land next to its Rocky Point condo project to CEDO, the Intercultural Center for the Study of Deserts and Oceans.
The disagreement between CEDO and the developer stemmed over approximately a 16-acre piece of land. In order to reach the agreement there had to be some compromise from both parties. The disagreement on the side of CEDO came from their belief that because CEDO occupied the land for nearly 26 years that it had rights to the land under Mexican law. The developer claimed rights to the land because it had purchased the 16 acres.
The developer professes all along that it had plans to donate to CEDO. As a result of the compromise, the developer was forced to scrap plans for one of the 47 units which make up the project in the Las Fuentes del Mar development. Home lots in that area can cost as much as $500,000. CEDO agreed to buy one of the lots, according to a press release. Also, the developer agreed to cover much of CEDO’s legal costs for the settlement. The organization will need to raise $250,000 by the end of the year to cover closing costs, taxes and purchase of the property.
