Did Caldwell Urban Renewal buy land with the idea of selling it for a profit to the Feds?
Our sister blog, the CALDWELL GUARDIAN,continues to review past minutes of the local Urban Renewal agency and its questionable actions. This little gem is 4 yrs. old, but it speaks volumes of the mentality–and wisdom– of this public agency.
“Chairman Waite informed the board that the Huston property at the airport, which is located in the ‘squash zone’ and consists of 13-15 acres @ $50,240/acre, is on the list to be purchased by the FAA in several years. URA has the opportunity to purchase the land now for re-sale to the FAA in the next several years. Potentially the FAA will reimburse owner at market value, however it is not known whether URA will qualify for the full market value reimbursement. Motion to authorize Chairman Waite to put together a package for URA approval: Beebe/Fouts M/S/P”
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