They have been out of control, now they are out of their minds. On February 24th the city commission voted to spend $750,000 of your money for the 0.16 acre property at 901 W. Fairbanks ($4,800,000 per acre). They also voted to negotiate the purchase of the 1.0 acre property at 929 – 957 W. Fairbanks for $3,000,000 more of your money. These purchase prices are more than $2,100,000 greater than the Orange County Appraiser’s estimated market values, and exclude costs for demolition, potential environmental abatement, and improvements (there has been no appraisal). These purchases exclude the connecting 0.13 acre…
Commentary by Pete Weldon
