RE: Monk propertyJane:
From my prospective at the airport, we had an appraisal that was
reviewed and approved for purchase by the FAA. The appraisal was to run
out on September 18, 2009 unless we were in negotiations with the
subject price of $600,000. The Monk family has an attorney and was
working out an option for that price, good until December 31, 2009 when
we needed to make the decision. The option says we can purchase the
property in three installments of $200,000 each, plus interest. If this
is not done, we will have to start all over again with new appraisals.
My concern is that they wanted about $800,000 for the property and only
settled for $600,000 knowing that a new appraisal would be less than
$600,000 we offered. Reference the going rate on the by-pass lands that
Turner sold. Monk also sold some land to the State for the by-pass.
Even if we do not upgrade the airport, this land is very important to
the airport because it butts up to the edge of our main runway. Charlie
will have to fill you in on the status of the option.
Fred
From: Jane Howington
Sent: Monday, December 14, 2009 11:47 AM
To: Charlie Harball; Fred Leistiko
Subject: Monk property
Charlie and Fred,
At the last Council meeting, Council requested a summary and status of
the City involvement with the Monk property. They've received several
inquiries indicating the City has the property tied up and is unfairly
holding it hostage. Could you please provide a short summary of
activity between the City and the Monks so I can share that with
Council?
Thanks.
Jane