According to an FAA official, the city has been informed with
how much they would be required to pay back the Federal Government for the
airport. The FAA official that stated
this, could not recall the exact number, but stated that he would find out what
that number was, but it is in the MILLIONS.
The city has led the public to believe that they can sell the land for
$550,000, and pay back the grant with the sale proceeds, and it is over.
As soon as we find out the number the Feds have quoted, it
will appear here. This is the real
situation, even if the McCaskill amendment were to pass, which does not seem
likely, the city would have to come up with the difference between the
appraised value, and what the Feds say the airport is worth. No one would pay the Feds price for this
property, so the city will be on the hook for the difference. The appraisal has evidence of city influence,
$6800 an acre, really!! What is obvious
here but not really surprising, is that the city thinks that no one would
notice, TEN YEARS AGO, a large parcel
just down the interstate, maybe a mile, went for $8000 an acre on the same day
it was listed. Not a fair comparison???? We are looking at prime retail development
property here, LOCATION-LOCATION-LOCATION.
What appears here is that someone
is trying to influence the appraisal, thinking that the property would be
easier to obtain if the appraised price were lower than market conditions. The
appraisal is really not the issue, the Feds will set the price.
Will the appraisal include the runway, the buildings, the road, etc, or just the property? It seems to me that the additions to the property should be included in the appraisal.
ReplyDeleteJust to let everybody know another business is leaving St Clair. The Sportsman Supply is moving towards Fenton.
ReplyDeleteRENT
ReplyDeleteFound out a couple of weeks ago, that if you rent a hangar at Washington, and by gas from Washington aviation, you get a hangar rental discount of 10%. That makes hangar rent at Washington $135 for something comparable to St. Clair, that’s $40 a month less than St. Clair. That also makes St. Clair the highest rental rates in the neighborhood, the most mis-managed airport in the neighborhood; basically it makes the city a slum lord.