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No. 1148 approving the fair re-use and lease/purchase value of land in the Blackthorn Corporate Center, AEDA
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No. 1148 approving the fair re-use and lease/purchase value of land in the Blackthorn Corporate Center, AEDA
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10/18/2012 2:50:17 PM
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10/21/2011 2:23:01 PM
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DISPOSITION <br />PARCEL NO. <br />Lot 1 <br />Lot 2 <br />Lot 4 <br />RESOLUTION NO. 1148 <br />EXHIBIT "A" <br />BLACKTHORN CORPORATE CENTER <br />APPROXIMATE <br />SIZE <br />63.129 acres <br />14.690 acres <br />91.190 acres <br />* *Terms for Lease /Purchase <br />RE -USE <br />VALUATION <br />$40,000 /acre <br />$40,000 /acre <br />$40,000 /acre <br />LEASE /PURCHASE <br />ANNUAL PAYMENT ** <br />$3,772 /acre <br />$3,772 /acre <br />$3,772 /acre <br />1. A prepaid ground lease with $1.00 option to purchase at <br />the end of the lease. Terms would be pre - payment of the <br />Fair Re -use Value ($40,000 /acre) of the fee simple <br />interest in the property at the beginning of the lease and <br />a $1.00 option payment at the end of the 20 year lease <br />term as considered for transfer of title to the property. <br />-or- <br />2. A self amortizing 20 year ground lease with a $1.00 option <br />to purchase at the end of the lease. Terms as follows: <br />Annual payment: $3,772 /acre <br />Total payments: $75,440 /acre <br />PROPOSED RE -USE <br />Corporate Office <br />Support Office /Research <br />General Business <br />
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