Post by Poor Richard on Jul 8, 2022 12:36:00 GMT -7
GLA Offered 1 million dollars for South Glastonbury Land
The Glastonbury Landowner's Association (GLA) has been offered one million dollars for two parcels they currently own in High South. Parcels 96 and 102 are undeveloped and total 213 acres. Described as "of little value" and "not build-able" by current GLA directors and Dissolution litigants John McAlister and Jerry Ladewig the offer seems quite generous. The Forum first uncovered this story when we revealed that the value of the parcels was not listed on the official GLA Financial statements. The author, Poor Richard, estimated the market value of the lands at $75,000.00 per acre which would bring the total to almost 16 million dollars.
Regardless of which estimate is correct 1 million dollars is equivalent to 6 1/2 years of landowner assessments. One million dollars could rebuild Arcturus Drive in South Glastonbury and repave Capricorn in North Glastonbury. 16 million dollars would be enough to bring every Glastonbury platted and private road up to Park County standards.
A motion was presented by Director Brockett to accept the one million dollar offer and take the necessary steps to complete the sale. If approved by the GLA Board a landowner vote would be next. Since both parcels are described in the Covenants, a Covenant change would be required. 51% of the parcels would have to vote YES.
If the one million dollar offer is approved before further steps are taken to dissolve or split Glastonbury, all landowners would receive the benefits derived from the sale. If Glastonbury is split then just South Glastonbury landowners will receive benefits from the sale.
Regardless of which estimate is correct 1 million dollars is equivalent to 6 1/2 years of landowner assessments. One million dollars could rebuild Arcturus Drive in South Glastonbury and repave Capricorn in North Glastonbury. 16 million dollars would be enough to bring every Glastonbury platted and private road up to Park County standards.
A motion was presented by Director Brockett to accept the one million dollar offer and take the necessary steps to complete the sale. If approved by the GLA Board a landowner vote would be next. Since both parcels are described in the Covenants, a Covenant change would be required. 51% of the parcels would have to vote YES.
If the one million dollar offer is approved before further steps are taken to dissolve or split Glastonbury, all landowners would receive the benefits derived from the sale. If Glastonbury is split then just South Glastonbury landowners will receive benefits from the sale.