December 21, 2015
(Note: The Joint Development Authority (JDA) used to be known as the Four County Development Authority (4CDA). These 2 entities are one in the same when you read our blogs, and they are also called “Stanton Springs”.)
He said there would be “$830,000 in proceeds from the land sale.” Watch his presentation here:
His comments confirm that there will be a huge loss to the taxpayers that have faithfully put money into the 4CDA/Stanton Springs for the past 13 years or more.
Here’s how the deal works.
- JC Flex and the 4CDA (JDA) sell land together in the same contract, even though JDA owns 482 acres and J.C. Flex owns 55 acres of the land being sold.
- The selling price for both JDA and J.C. Flex land is $3,718,830.
- J.C. Flex and its parent company TPA, get a 7% sales commission on the deal ($260,000).
- J.C. Flex and its parent company TPA, also get ONE HALF OF THE PROCEEDS from the sale.
- J.C. Flex will sell enough land to JDA to build a 1400’ parkway. JDA will pay $100,000 for the land. This is the same land J.C. Flex previously bought from JDA for $13,000 per acre or less. JDA will set aside $1,000,000 to build the parkway as required by the contract.
- The 4CDA/JDA is left with $832,000 per Tamplin’s calculations.
You can confirm all of this by reading the contract for this deal.
Mr. Tamplin also gave a presentation on how JDA/4CDA would operate without the sale. That will be in the next blog we send out.
I have spoken with both Kippy Clarke, the buyer/developer, and Steve Jordan, Jasper County’s JDA representative, and neither one could explain why TPA/J.C. Flex is getting ONE HALF of the proceeds in this deal.
If for some reason, this is “fair”, then 55 acres of TPA land is worth $34,000 per acre and 482 acres of JDA/4CDA land is worth $3,800 per acre.
There goes our hard-earned money, right down the drain.
Citizens, be informed and stay informed! Only by being informed can the citizens understand what is being done and talked about, and then press our officials to make good decisions for everyone in Jasper County. That is our goal with the Taxdogs blog.