Help me with this one... Fish House law suit

I wonder how much this jury trial is gonna cost the taxpayers.
These legal industry people don't work cheap.

The following may or not be true. Maybe only a rumor as I have no real knowledge of the true amounts. For entrainment purposes only

Saturday, September 25, 2010

Apparent Special Deal on City Owned Property
I have serious concerns about the way City Officials, the Mayor and City Council Members use and dispose of City property and City funds. One of the properties I have had concerns about is the old Pensacola City Police Station at 40 S. Alcaniz Street.

On November 12, 1993, the Finance Committee of the Pensacola City Council issued a memo, subject: Vesting of Job Creation Credits—First National Life Insurance Company. The memo laid out the conditions for Mr. R. K. (Skip) Hunter of the First National Life Insurance Company to acquire the old Pensacola Police Station at 40 South Alcaniz Street as follows:

They established the value of the property at $382,500.00 even though the 1985 appraisal had put the value at $425,000.00. They subtracted the $150,000.00 paid by Mr. Hunter to bring the building up to code from the $382,500.00 so that the cost of the property was now 232,500.00. Mr. Hunter would pay one dollar (1.00) per year for ten (10) years for a lease until all conditions of the lease agreement had been met. No money would be paid to the City for the property but Mr. Hunter would be given employment creation credits for each employee hired to pay off the property.

On November 20, 1997, Mr. Hinkle, the Pensacola City Manager, signed a special warranty deed giving the old Police Station to Mr. Skip Hunter.

Unfortunately, it appears that after the employment creation credits gave Mr. Skip Hunter the property, the business closed, the employees left and the job situation was no better than it was before City Officials, the Mayor and City Council Members gave Mr. Skip Hunter this “special” deal.

On August 7, 1998, two transactions were filed with the Courthouse.

Instrument 1998509493
Warranty Deed from the City of Pensacola giving the old Police Station to Mr. Skip Hunter of the New South Investment Corp Inc. for the price of $10.00 (ten dollars).

Instrument 1998509494
Warranty Deed from Mr. Skip Hunter of the New South Investment Corp Inc. giving the old Police Station to the University of West Florida Foundation Inc. for the price of $2,250,000.00 (two million, two hundred and fifty thousand dollars).

It appears that the taxpayers received $10.00 for the old Police Station and Mr. Skip Hunter received $2,250,000.00.

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On July 19, 2005, two transactions were filed with the Courthouse.

Instrument 2005395895
Warranty Deed from the University of West Florida Foundation, Inc. giving the old Police Station, for $4,200,000.00, to The Florida Institute for Human & Machine Cognition Inc.

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I have concerns about the warranty deed’s legality as Mr. A. Alan Manning signed as witness and as notary public. He was also the attorney who developed the paperwork. I am a notary public and this seems irregular to me.

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Instrument 2005395896
The Florida Institute for Human & Machine Cognition Inc. received a no interest mortgage from the University of West Florida Foundation Inc for the old Police Station Finance Amt $4,200,000.00

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The Florida Institute for Human & Machine Cognition Inc. is a non-profit organization and pays no property taxes so all of the City services they receive are free and the rest of us pay for it.

It concerns me that a $4,200,000.00 property only resulted in $10.00 for the people
of Pensacola. Something seems to be very wrong.

I'm especially concerned and am bringing it to the public's attention because the City Officials, Mayor and City Council appear to be planning to repeat this type of operation even though the previous deal appears to have been a failure. I spoke about this at the Pensacola City Council Meeting of September 23, 2010. The City Manager, Mr. Coby, briefly discussed the new project describing it as similar to the old Police Station debacle.

Councilwoman DeWeese said, "It sounds like congratulations are in order. It sounds like a successful economic development opportunity."

As I stated above, I have serious concerns about these deals.
Posted by Mary Mead at 3:23 PM No comments:

2seaoat wrote:Simple.  Attach a five percent arrearage payment to any new lease which adds 5% cost until fully recouped in 20 years......new leases are % of business.....done/

LOL.

After I asked today what the grits a yaya was, coincidentally I learned my girlfriend and her cousin and his wife went there last night and the cousin got the grits a yaya (my girlfriend got a steak).  The cousin said the dish was good but that it had too much grits in it.  But he's from Toms River New Joisey and I've never seen a yankee yet who can understand grits before they live in the south.  And most of them still never understand grits after they live here.  
So I still wanna try it.  I guess I better go ahead and get the grits a yaya tomorrow cause if they lose the lawsuit the place will fold.

So how much do you think the land is worth at Port Royal?

Numbers from one unit
Total market value for property: $292,307
Improvements value: $292,297
Land value: $10
Property use: Condominium
Assessments for tax year: 2010
Land usage: Multi-Family
Land size: 177,289 square feet
Type of the building: Condominium
Year property was built: 1984
Number of stories: 2
Number of plumbing fixtures: 9
Actual area: 3,100 square feet
Heated area: 2,198 square feet
Base area: 1,082 square feet
Base semi finished: 115 square feet
Garage finished: 489 square feet
Lanai: 396 square feet
Upper story finished: 1,018 square feet
Floor cover: Carpet
Roof cover: Tile/Clay/Cemnt
Foundation: Wood/Sub Floor
Roof framing: Wood Frame/Trus
Exterior wall: Stucco Ov Wd/La
Interior wall: Drywall-Plaster
Heat/air: Central Heating/Air Conditioning
Decor/millwork: Above Average
Structural frame: Wood Frame
Fireplaces: Pre-Fab Mtl Average
Shape: 6 Corners




Read more: http://www.city-data.com/escambia-county-fl/P/Port-Royal-Way-2.html#ixzz2qQnhvA8L