Saturday, September 02, 2006

Orange County Spending Millions On Land Appraised For Much Less

WFTV9 reports...

ORANGE COUNTY, Fla. -- Did the state and county overbid tens of millions of dollars for a property that no one will ever live or drive on? The government agencies told Eyewitness News the land was worth it because it is environmentally sensitive.

Channel 9 wanted to know if it was worth the $50 million price tag, considering it was purchased six months earlier for $18 million less.

The 4,500 acres of land in question is called the Joshua Creek Conservation Area. It stretches across east Orange County into Seminole County.

Eyewitness News did some digging and property appraisers said all the land is assessed at about $10 million, but in the land deal it's being bought for $50 million.

Still, the county says it's getting a good deal.

This reminds me of the Parramore deal. Why are we paying so much and who's pockets are getting lined?

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