At the Jan. 26 meeting, the Board of County Commissioners of Leon County voted to move forward with the purchase of the Supervisor of Elections Voting Operation Center Property.
The VOC, located on Capital Circle and Apalachee Parkway, was appraised at $3.325 million. The proposal includes $5.4 million in financing for repairs and purchase of the property.
The financial agreement states that the $5.4 million in financing will be paid back over a 15-year period and will be funded by Sterling National Bank. According to the Board, the purchase and repairs of the VOC would be approximately the same as if they were to extend the current lease that they already have on the building.
The financing will be funded by Sterling National Bank which had the lowest 15-year interest rate among the competing vendors. With an interest rate at 1.85% over 15 years, the County will actually save $458,340 rather than borrowing under a 20-year term and Leon County will actually break even at 15 years because the financing cost equates to the rental payments over the same period.
You guys need to run for office; you make alot of cents! If we could just get money and politics decoupled. Ah, that will be the day!
Here is a piece of Property with a 44,000 SqFt Building and 15 Acres of land for just $1.7 Million and it is located just down the road from this location...…amazing what you can find if you look for it.
https://www.loopnet.com/Listing/2001-Apalachee-Parkway/21635177/
Someone's campaign contributor made out like a bandit.
"I'll gladly pay you twice as much on Tuesday, for that hamburger your selling today"
Ahhh, the joys of having access to the taxpayer's bank account.
WHY is it that our Local Governments BUY property for way MORE than it's worth and sell Property for way LESS than what it's worth? Major changes need to be made in our Local Governments.
There are a few businesses in the shopping center that need to wash their windows and pressure wash their storefronts and sidewalks. Basic 101 maintenance that goes un-adressed
The $2M in repairs will likely increase dramatically. Maybe they will break the news after the purchase that it needs around $1.5M in mold remediation and some additional expensive stuff.
For our local elected nannies what is the upside you may ask?
Well it involves campaign contributions from the selected contractors.
But Snidely no politician would ever spend millions of tax payer money just to get 10's of thousands in kick backs...get real Snidely!!!
WHY would you buy a Building that needs OVER $2,000,000 in repairs?
For that amount of money, I assume you are purchasing the whole Shopping Center.....RIGHT? If not, go in halvsies with the City on the Northwood Mall.