In the blog post last night about the 87% loss on taxpayers’ money, we feel clarification is necessary.
- The land for the parkway will be sold for $100,000. JC Flex will sell the land to the 4CDA/JDA. This is the same land JC Flex bought previously from 4CDA for $13,000 per acre or less.
- JDA will take $1,000,000 of its proceeds and put in escrow to build a parkway for the developer. Members of the JDA say “they hope” they can build this parkway for less than $1,000,000.
The blog has been updated to make this information more clear. We apologize for any confusion about the cost of land for the parkway and the parkway itself.