consultants are sandburs

Friday, August 29, 2014

RAMSEY - What's fair value for residential land in the middle of the Ramsey Town Center?

Earlier this month ABC Newspapers reported PSD LLC is developing housing in Town Center on land purchased for $3.12 a square foot, at a total income to the City general fund of around $1.9 million. The ABC Newspapers link was posted on Crabgrass, here, earlier this month.

I look at those numbers, and it is, well somebody I believe experienced in real estate has generated an offer-acceptance that puts money into the city coffers and gets distressed land dedicated to a use that will add to the tax base; in ways I cannot judge as anything but helpful to getting out of a hole an earlier council dug for Ben and the rest of us, by buying the distressed land at what then, to me, seemed a high price for distressed land subject to county and town tax liens, with a bank that had repeatedly scheduled and then folded mortgage foreclosure sales where the only clear impression was they had trouble moving the property at a price they liked because it was distressed and encumbered land, with the City's offer being something of a Godsend to the bankers involved.

Some in the county dislike the fact that the owner of PSD LLC, Jim Deal, has a liking for his Constitutional rights to participate in political processes; a right all of us who are of-age and are non-felons, folks who've not forfeited our civil rights in any way, have. Surely Jim Deal has an advantage most lack, in that he is wealthy, likely in the 1%, and surely not in Mitt Romney's 47%. He is better positioned to contribute to candidacies than are wage laborers. That is a fact.

This is a request countywide:, It is directed to folks in government or out or wishing office; if you know of any factual evidence suggesting the deal is somehow wrong, really wrong and not just a bug in somebody's bonnet; something going beyond the norms of latitude within a matter of discretionary judgment under vicissitudes of the market in real estate where every parcel of real estate is regarded at law as unique and the best measure of value of raw land is what someone will pay in an arms-length negotiation situation between a willing and informed buyer and a willing and informed seller in the absence of distress or extenuating circumstances -
Just the facts, ...
if there is one scintilla of actual real evidence of wrongful dealing known to anyone, the request is that any such person with such evidence leave a comment to this post, stating the actual real evidence [please - not blithering opinion or baseless innuendo], and it will be published, here, as a comment to this post.

It is sort of a put up or shut up offer. An offer to anyone, having actual evidence to have it shown online, which such person logically should not refuse? It would however put personal credibility on the line since no anonymous thing would be acceptable, and defamation liability should be avoided.

So there it is. Put up. Or shut up.

AND - best yet, if there is documentary evidence held, attach it to an email sent to the email address posted in the sidebar. If documents are so voluminous break them up into multiple emails, since Gmail limits attachment size for an email to 15mb. But send in every shred of evidence, the more or merrier. ... Or shut up.

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