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The Ellman Cos.’ winning $110 million bid last month for nearly two square miles of state trust land in Fountain Hills sets the stage for a major development of up to 1,750 homes. But don’t look for the dust to fly and framing crews to appear just yet. It will be 2010 or later before development occurs and lots are turned over to home builders, said Don Kile, Ellman’s senior vice president. More…