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Message
re: FOR SALE: Corner of Bluebonnet and Jefferson
Posted on 8/1/17 at 12:01 pm to StinkBait72
Posted on 8/1/17 at 12:01 pm to StinkBait72
quote:
Now I don't know if this property was adjudicated
It's wasn't - the Parish bought the property when Bluebonnet was expanded. It was apparently being maintained as a green space until being put up for sale.
1
Posted on 8/1/17 at 12:02 pm to 9001
quote:its across the street to the south. small strip. will probably develop like the strip across the street with subway, pizza hut, etc.. in it
Is this the same corner they are building the bank on that says it's been serving the local area for a long time but no one has ever heard of the bank? If so, either way that place is going to be a fricking nightmare to get in and out of and is going to make that intersection even more of a cluster frick.
This post was edited on 8/1/17 at 12:02 pm
Posted on 8/1/17 at 12:05 pm to LSURussian
quote:
Unless you can provide a link saying the C-P is required to get an appraisal for public property, then your other statements are irrelevant red herring bloviating.
The Legislative Auditor seems to think they need an appraisal (from the link above):
quote:
“Our reading of the law is that they can declare it surplus, but they have to sell it for market value,” Purpera says. “I don’t know how you do that short of an appraisal.”
Posted on 8/1/17 at 12:08 pm to doubleb
quote:
I wonder too if Heck and the Council had to approve the sale and whether or not Heck was aware of the sale price, the sale, and who bought it before the sale was approved
According the business report, Heck assisted Cosman in an earlier land deal and for this one "Ryan Heck, who represented the area in which the land is located, carried the deal through the process."... so according to them, he was well aware of what was happening.
Posted on 8/1/17 at 12:08 pm to LSURussian
quote:
Which refutes your post above that I replied to about "the owner not paying attention."
BS, it refutes nothing. The owner didn't pay attention. They sold property for 10K when it could have possibly gone for 50 times that. They were either incompetent or on the take. I don't know which.
And how can you defend this process? Do you know the developer?
quote:
The owner, the city-parish, put the property up for sale and followed all required public notice rules according to the article linked in the OP. Unless you can provide a link saying the C-P is required to get an appraisal for public property, then your other statements are irrelevant red herring bloviating.
quote:
From the state's auditor:
“Our reading of the law is that they can declare it surplus, but they have to sell it for market value,” Purpera says. “I don’t know how you do that short of an appraisal.”
But ultimately, the Louisiana Constitution prohibits “things of value” of political subdivisions from being donated, Purpera says, except in certain circumstances. He says Baton Rouge is at odds with that provision by selling land at what amounts to a steep discount.
quote:
He says the city-parish failed to create an atmosphere of competition at the auction if only one bidder showed up—and with a $10,000 sale, taxpayer dollars were essentially given away.
quote:
Purpera points to the state law and also state Attorney General opinions that he says require municipalities to sell land at fair market value—and if they don’t, to justify why they are selling it for cheaper
LINK
Others share my opinion, an appraisal was necessary to protect the public interest.
Posted on 8/1/17 at 12:12 pm to doubleb
Moreover, cities are incorporated by the State. Anything a city "owns" is ultimately state property.. A city might think it can go around selling off stuff as political kickbacks, but if they don't follow State laws and start acting all shady, the State has full right to investigate, void the sale, and - IMO - press charges against these crooks!
Posted on 8/1/17 at 12:13 pm to fightin tigers
quote:
but governments usually don't care about being for profit.
lolwut? A properly-run government gets maximum value for it's citizens.
Posted on 8/1/17 at 12:13 pm to doubleb
quote:Not required by law as you keep trying to make people believe.
Others share my opinion, an appraisal was necessary to protect the public interest.
An auction is one of the most efficient ways to establish the "market value" of anything. eBay does it everyday.
If the C-P sold the property to a private person in a secret sale, I'd be outraged right along with you.
But if all required public notices were made, and according to the article linked in the OP they were, and the public auction was held as required by law, then the only thing I'm pissed about is that I didn't pay attention to the public notices and didn't bid $10,000.01 on the property.
Posted on 8/1/17 at 12:14 pm to Brummy
The article is written as if they followed the process typically required by the Parish Attorney to get this thing sold. The auction list should be archived through the Parish Attorney site, but I haven't had time to look.
Posted on 8/1/17 at 12:18 pm to sneakytiger
quote:
The land was sold at public auction, right?
Next time you sell some land, post it three times in the advocate and have an auction. Let's see if you get free market price.
Posted on 8/1/17 at 12:22 pm to dfintlyHmmrd
quote:
Well assuming it was advertised properly as the article said it was. I would think he could make the argument no one else was interested since no one showed up to bid.
He could certainly make the argument. Whether his argument withstands any sort of legal review is a different ballgame.
Posted on 8/1/17 at 12:23 pm to LSURussian
I am not saying they broke any rules/laws. But, are we really comparing Posting 3 times in the advocate and holding live auction to EBay?
Posted on 8/1/17 at 12:26 pm to StinkBait72
Aww, Heck. How many people are going Enron on their email accounts this morning?
Posted on 8/1/17 at 12:31 pm to LSURussian
quote:
Why didn't you bid on it?
Because the City-Parish intentionally kept it as down-low as possible while toeing the legal line.
Posted on 8/1/17 at 12:33 pm to doubleb
quote:
the City-Parish didn't know what they were doing
Do you really believe this was just a series of innocent mistakes? I'd like to see all meeting minutes regarding this sale. They probably approved with the fewest number of words legally possible, too.
Posted on 8/1/17 at 12:34 pm to Jester
quote:
Because the City-Parish intentionally kept it as down-low as possible while toeing the legal line.
How so? They followed the same process as any other surplus land auction?
Posted on 8/1/17 at 12:34 pm to fightin tigers
quote:
I don't think anything shady was done. The auction was advertised properly.
Seems like a straight forward sale should have been done, but governments usually don't care about being for profit.
It may have been but it's a little fishy that the only person who seemed aware of it and showed up just happened to be a friend of Heck's. Plus the fact that the city still approved the sale even though it was so far below market value. Then Heck saying he has a "fiduciary responsibility" and this satisfies that is kinda ludicrous. The council never should have approved this sale.
Posted on 8/1/17 at 1:00 pm to MLCLyons
What the Heck???
Legislative Auditor to probe cheap Bluebonnet land deal
Legislative Auditor to probe cheap Bluebonnet land deal
quote:
Nevertheless, the Legislative Auditor said state law dictates a municipality cannot sell property at a discount from its fair-market value. "From my read of the law, you can’t sell property lower than the fair market value," Pupera said. "And if you are going to sell it below what is established as a fair-market value, then you have to document why you’re doing that."
This post was edited on 8/1/17 at 1:03 pm
Posted on 8/1/17 at 1:05 pm to tommy2tone1999
Trying to look into the background of the said lot now, and it is obvious the data doesn't jive between the records on the GIS, Tax Rolls, Sheriffs site, etc. This is not uncommon with property, but may very well be the reason it flew under the radar of other potential buyers. Going through the real data at the Clerk of court is very time consuming, and leads to a waste of money/time 98% of the time.
For example the legal description is: "Ward 3-0 #226, Lot: 9, Subdiv: INNISWOLD ESTATES. (LESS PORTION TO STATE OF LA. DEPT. OF TRANSPORTATION) 1999. (C/S 457,095).
".
While that is easy to find on a map, the chain of ownership is not always easy to follow. A purchase of this property from the parish requires the individual bringing it to auction to do all the ground work and does not come with a title insurance policy.
With the above said the investor either got extremely lucky to stumble upon this with all the broken data links or he was given a tip and used his contact on the inside to help him get it pushed through. In the end it does appear they did the minimum to make the deal legal.
If local governments attempt to sell their "Surplus" properties at Fair Market Value, that won't sell many. These properties are sold as is with no guarantees. The tax payers would be paying to keep it maintained along with missing out on the potential revenue.
For example the legal description is: "Ward 3-0 #226, Lot: 9, Subdiv: INNISWOLD ESTATES. (LESS PORTION TO STATE OF LA. DEPT. OF TRANSPORTATION) 1999. (C/S 457,095).
".
While that is easy to find on a map, the chain of ownership is not always easy to follow. A purchase of this property from the parish requires the individual bringing it to auction to do all the ground work and does not come with a title insurance policy.
With the above said the investor either got extremely lucky to stumble upon this with all the broken data links or he was given a tip and used his contact on the inside to help him get it pushed through. In the end it does appear they did the minimum to make the deal legal.
If local governments attempt to sell their "Surplus" properties at Fair Market Value, that won't sell many. These properties are sold as is with no guarantees. The tax payers would be paying to keep it maintained along with missing out on the potential revenue.
Posted on 8/1/17 at 1:08 pm to Jester
quote:How so?
Because the City-Parish intentionally kept it as down-low as possible
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