Oak Grove Park Land Overpriced?

If the board of commissioners buys land on Lavista Road today, it could be for nearly five times what the county believes its worth, the AJC reported.

Yesterday, I told you about the the county board of commissioners is scheduled to vote–and sign off–on today.

The Atlanta Journal-Constitution published a story this morning saying the negotiated sale price of that land is nearly five times what the county's tax assessor says it's worth.

No one so far disputes the land at 2886 Lavista Rd. would be good for a park. But some people are questioning the price.

“They’re probably doing the right thing in terms of a park,” Don Broussard, a city planning consultant who lives near the property, told the newspaper. “But why are we paying that kind of money as if it’s a developable site?”

Rader, who spoke with North Druid Hills-Briarcliff Patch yesterday, told the paper outside appraisers have valued the property much higher recently.

From the AJC story:

County Commissioner Jeff Rader said the land was appraised in 2010 at $1.7 million and $2.3 million, respectively, by two outside appraisers hired by the county. An appraisal done just a few weeks ago again put the value at $1.7 million.

Rader said the outside consultants did more detailed and specific work than the county’s assessment system.

So, this story just got a lot more interesting. Patch editor Timothy Darnell is at the board of commissioners meeting this morning, so we'll have an update for you as soon as possible.

jimbob June 14, 2011 at 03:39 PM
I'll be curious to see what happens with this. Obviously, it's mostly tucked away off of Lavista, in the Oakgrove/LHS district. I'd think it would be some pretty expensive land.
Cerebration June 15, 2011 at 02:25 PM
So, has anyone checked to see what the guy who now owns it paid for it? He certainly hasn't owned it very long - he's a developer. I'm sure he planned to build more townhouses on the site. As long as he's not making a windfall, I don't see the problem. But if he picked it up for a good deal and then found a gullible buyer to pay him big bucks, then yeah, that's a problem.


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