Noticed yesterday where the Jeffersonville Redevelopement Commission offered the Jeffersonvillle Parks Dept. 2 1/2 times the appraised value for a piece of land part of what was formerly Colston Park across from the Big Four landing park still under construction. Sweet deal !!! The thinking was I assume with the Big Four Bridge now open this land is much more valuable than before.
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| Gotcha !!! |
It's too bad that the former homeowners in this area myself included (rental property) weren't offered the same 2 1/2 times deal they are offering the Parks Dept. Instead we (property owners) were lied to. We were told our property was needed for the "Canal Zone" Galligan's pipe dream reelection ploy. In meeting we were told even if the "Canal" doesn't come to fruition our properties were still needed to bury a pipe below the ground in this area in order to fulfill the consent decree of the EPA. Well unless they are going to dig up the brand new park which I seriously doubt, the homeowners of the houses previously in the park area were lied to big time.
I realize the administrations changed and that nixed the "Canal" but the wording of the legal papers specifically said "Canal Project". We were told this was eminent domain process where if we couldn't agree on prices for our homes it would go to court and the homes taken. The houses were appraised, most settled for fair market values of the appraisals which were fair....
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| Area where homes were taken |
My contention is that we were lied to and now the property values have dramatically increased in value. Jeffersonville government told us one thing and did another, the classic old "bait and switch" con game which in the business world is fraud in the political world it's business as usual...
This is why I objected to the city buying the properties. If it was going to be so lucrative, if developers were just dying to build down there, why couldn't the homeowners just negotiate directly with the developers? This would've saved taxpayer money spent on the properties, and the property owners may have gotten better prices, especially if they bided their time.
ReplyDeleteIt should be noted the Colston Park property currently being discussed on CCC was public throughout this process. However, the arbitrary way the canal properties were purchased makes it hard to determine value for the park property. Looking at purchases of similar property in the area - a common way to appraise - gives a range of value of roughly $50,000-900,000.
The city maybe get significantly more than the number thrown out by redevelopment IF they plan to relinquish control of development there. But an investor is not going to pay a fortune for a property to build what someone else wants built. Under those circumstances, they're going to build whatever gives them the highest return.
Lord help us if Mr. Landscape company gets elected.
ReplyDeleteThe big Jeff machine will be alive again.
The king of telling others to move on refuses to move on. Shocking.
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