The San Francisco Examiner from San Francisco, California • 54

Feb. 21, 1982 S.F. Sunday Examiner Chronicle jv i :4 -s 4 Yt YY'" a. Associated frs Double Diamond Ranch near Reno, where George Benny wants to build a city George Benny's really BIG project an entire city Less than two years ago, George I. Benny won approval (or what may be his most ambitious project construction of a community just outside of Reno that ultimately would have 17,000 residents.

The proposal called for development of the Double Diamond Ranch a former horse-raising spread of 2,600 9cres into a self-contained community of residences, primary and middle schools, a golf course, a state fair and rodeo grounds, as well as commercial and industrial businesses. Single-family homes and condominiums would range from $50,000 to $125,000. Washoe County and regional planners approved the conceptual proposal in July I960 and last March granted Benny permission to start one-third of the project. The latter approval allowed Benny to present detailed construction plans. After pouring about $20 million into the proposal for land purchase, legal fees, and planning designs the project has slowed since he received his last OK.

"I've heard that as soon as they get financing, they will move on coastruction," said Michael Harper, division director for the Regional Adminstration Planning Agency in Washoe County. Project engineer Louis Stout, of Collins and Ryder Consulting Engineers, said the project is "still going through the (state) approval process" and that it was not too far off schedule. Both Harper and Stout noted the slow pace of negotiations between between Benny and state officials over technical plans for a sewage treatment plant. Harper guessed it would cost $40 million to install support services, such as surface roads, drainage, a sewage plant and landscaping. In addition, actual construction of the first phase would cost $60 million to $100 million, he said.

Coastruction would take ZH years. The entire project would take about a decade to complete. In addition to the Double Diamond ranch, Benny Is renovating the River Inn motel and casino. About $6 million has been spent on renovation of the hotel, which has been renamed the George I. Benny River Palace.

It will have room for 800 gamblers and a 400eat restaurant. The motel, purchased in a 1979 for $2.3 million, won its final approval from Reno planners in January 1981 and was scheduled to open two months later in April. Remodeling is continuing. Neither the River Inn or Benny had been licensed by the Nevada Gaming Commision as of last week. Corrie M.

Anders From sewers to big-time development and a casino when he quit in 1977 to go into real estate. The current suit against Benny was filed in VS. District Court in San Francisco. Chicago Title also cited a San Mateo mortgage firm, Robert Dean Financial, as a second defendant in the alleged check-kiting scheme. The charges have been denied by lawyers for Benny and Robert Dean Financial.

A federal judge has frozen both the notes and the property involved in the suit pending a jury trial. No date has been set What is known only is that a large sum of money has disappeared. Lawyers for Robert Dean claim it is the mortgage firm that has suffered the loss, while lawyers for the title company contend From Page Dl studying and working as a teaching assistant at Cornell University. He became a citizen in 1965 and two years later he was in San Francisco, working for Kennedy Enterprises, now known as Kenne-dy-Jenks Engineers, and designing major construction projects. According to Benny's court documents, he designed the Oro Loma Waste treatment plant in San Leandro and did extensive design work on ship waste-water collection for the U.S.

government. His superior at KennedyJenks told The Examiner that Benny did a up" job on the government project. He was earning about $36,000 annually their client is out the money. Robert Dean lawyers Said the mortgage company was approached last year by Benny and Chicago Title about getting loans, using 30 to 50 pieces of Benny property as collateral. An agreement was reached and loans from Robert Dean Financial to Benny were processed by the San Franciso office of the Chicago-based title company.

Acting as a neutral third party, title companies determine who legally owns a particular property and handle all arrangments of a transaction. Including the dispersal of funds. Robert Dean Financial says it made more than 1,000 short-term loans to Benny, which eventually totaled about $285 million. According to Chicago Title, the proper ties Benny used as collateral included 71-acre tract in Oakland, a Eureka department store, a ranch in San Mateo, six parcels, in Hanford, Kings County, three lots in South Lake Tahoe, and some 40 condominiums, at Diamond Heights village The total equity claimed in the properties was more than $15 million, Chicago Title said. Robert Dean Financial lawyers said, that as Benny continued to borrow, he began obtaining larger new loans to pay off, previous loans.

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