Fairhope, Alabama
(Edited for clarity)
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| '0' Fairhope Avenue property. |
COUNCIL MUST APPROVE
Mayor Sullivan told the Times discussions have begun with the Single Tax Corporation about purchasing the small building below the bluff at '0' Fairhope Avenue, east of the city's rose garden.
The corporation recently purchased the property for $475K from Bob Pope, considerably more than estimated value, and the city may be interested in splitting that purchase cost in a manner similar to the clock corner acquisition three years ago, Sullivan said.
The city council would have to give final approval, the mayor said.
(In January of 2020, the city council voted 4-1 to split the $525K purchase price of the clock corner property with the Single Tax Corporation.)
Update: The Single Tax Corporation has always owned this property, but it had been leased for the usual 99 year term to various individuals over the years. The corporation recently purchased the lease back from the latest lessee, according to FSTC president Turner. The property would be sold to the city for half, about $237K, as we understand the mayor's proposal.
Update: Another option is for the Single Tax Corporation to use to property as a parking area for "food trucks," according to corporation president Turner.
Comments
At first blush, this just sounds shady.
As part owner with the STC, what will the City do with the property?
I am stunned that someone wouldn’t buy it for a cold drink/coffee/hot dog place. Seems like a no-brainer.
Do you understand what single tax is about.
Not to purchase property back.
Who ever is in leadership needs to research what STC was founded about.
What is going on. I know they are not ignorant, maybe mis informed.
Where does it say you can do this. Stand to be corrected if you can show us.
As for Starbucks, sure we'd love to have our backwards ways corrected by 20-year-old, blue-haired, dodecuple-pierced, gender studies major baristas. Plus, overpaying for mediocre coffee would also allow us to subsidize the company's travel reimbursement policy for birthing persons who need to travel north to abort their babies.
Keep the the great ideas coming. Who knows? One day Fairhope might be as livable as Chicago, Seattle, or even San Francisco!
City of for half?
Who is owner of property.
Do you now lease it for 99 years or do you sell half and lease the other half and pay city half.
Attorneys get involved , cost more $.:
WOW
Does anyone know how this works or is it a secret?