The person that left the following post goes by the moniker The Magic Man, take what he posts for what it is worth to you, but I've always found the person as knowledgeable on local issues.
I was just contacted by the ACC. Here is what they said.
I am contacting you on behalf of Chairman Mike Gleason of the Arizona Corporation Commission ("ACC"). The approval for the Certificate of Convenience and Necessity ("CC&N") is awaiting the Recommended Opinion and Order ("ROO") from the Administrative Law Judge and for it to be presented before the Commissioners. After discussing this with the staff attorney we are anxious for this to be scheduled for the December 2008 Open Meeting. I agree with your concerns about economic growth in your area as well as the entire state.
If the ACC is at least moving on this... I take it as good news. If all goes well and approvals are handed out, it then rests on the developer as to when building starts and if the master planned development is successful. As it should be.