There’s a Phantom in Santa Clarita.

No, not the Phantom of Magic Mountain, which fans of the rock group KISS will remember from the late 1970s.

This Phantom is a developer.

In December 2008, Phantom Terrace Associates won county approval to build 29 single-family homes on 82.23 acres north of Copper Hill Road in unincorporated Saugus.

The project hasn’t yet started construction, and in August 2011, the Santa Clarita City Council voted to initiate its largest-ever annexation – of 2,475 acres, mostly north of Copper Hill.

The so-called “North Copperhill” annexation would include unincorporated parts of Bouquet Canyon, Haskell Canyon, Raintree and Plum Canyon – including the 82.23 acres slated for development by Phantom Terrace.

On Tuesday the City Council is scheduled to sign a “pre-annexation” agreement whereby the city will promise smooth sailing for Phantom’s development if and when it’s under city control – the city didn’t protest the project when it was working its way through the county – in exchange for Phantom’s promise not to fight the annexation.

According to a city staff report, under the agreement, “the city will honor the expiration date of the map as well as any subsequent extensions.” The map – i.e., the development approval – is good through December 2014, with allowances for one-year extensions through December 2020.

“When a final subdivision map is recorded,” the staff report states, “Phantom Terrace Associates agrees to offer easements to the city for pedestrian access to the undisturbed open space on the subject property, at locations to be determined and on reasonable terms and conditions.”

As it has already done with the Fair Oaks-Jake’s Way annexation that is also on Tuesday’s council agenda, the city and county are in the process of negotiating a property tax transfer for the North Copperhill annexation. Then it will come to the city for approval and then to the county before going to the Local Agency Formation Commission, which has the final say.

North Copperhill annexation area in dark gray at top | Click to enlarge