Understanding is that the Jefferson County School Board is considering leasing the abandoned former Jefferson County Elementary School property for 20 — 25 years for $1.00 a year. Has the property ever been listed for sale or offered for sale (to the general public)?
I don't know the value; however, there is newspaper indication that the property is worth One Million Dollars of 1.5 Million Dollars.
It would seem to me to be gross malfeasance and gross misfeasance for the school board and its members to lease the property for $1.00 per year for 20-25 years if it can reasonably be sold. A sale price, on an AS-IS basis, or virtually any reasonable amount ($500,000.00, $300,000.00, $100,000.00, $50,000.00, and so forth) would certainly seem better than virtually "giving it away" for $1.00 per year for 20-25 years ($20.00 or $25.00).
Additionally, with an arms length transaction and sale to a bonafide third-party we may even get the property on the tax rolls.
If I am missing something and there is some reasonable and valid reason to lease the property for $1.00 per year for 20 or 25 years (to anyone), please help me understand.
Robert E. Morris
Morris Law Firm