Warning: sit down and take a deep breath before reading this!
Unless you’ve been hiding under a rock recently or were without Internet access to this blog you know that Rick Pollitt wants Wicomico County to purchase part (5 acres) of the site of the former "Salisbury Mall" for $300,000 per acre, or about $1.5 Million. The site has been unused by its owner since long before the structure was demolished.
Now, hear this: at the Centre at Salisbury, which is the reason why the old mall went belly-up, several lots ("pads") are on the market for $225,000 to 235,000 per acre. That’s significantly less per acre for land that is worth at least twice as much as the 5 acres at the old mall, directly across from the Civic Center, that Pollitt wants to buy with tax dollars. And now he is asking the Council to approve the purchase of another 10 or so acres there.
Joe, what makes you an expert in commercial real estate values? As well, can you tell us how to price something for retail use versus public use? How is the comparison of pricing of these lots near the Centre relevant to those close to the Civic Center?
ReplyDeleteanonymous 9:38, for what it's worth, I own 3 commercial properties, how many do you own? Oh, that's right, you're anonymous. The answer must be that you own 50 or so.
ReplyDeleteLook, while I do have experience with commercial property, I'm not claiming to be an expert at anything. The whole idea with this Blog is to put the information out there for ALL to discuss. Agree with me or not, it doesn't matter to me.
If you support the County, just say so and perhaps give your reasons why. The fact that you don't even go there tells me you are more than likely the owner of another Blog that simply says the complete opposite of anything I do. You know, the guy who lives in section 8 housing, owns nothing, never has, never will, pays no taxes and collects disability checks every month. You know, that kind of expert.
I support the county in the decision to buy the 5 acres because it is money issued by the open space program and if we don't use it for the land it will be issued to another county in Maryland, it's free money, the state has to use it! Not to mention buying the land adjacent to the civic center will provide more parking spaces and in turn keep the large events that generate money into the area... we can't keep things like poodle club and wrestling which have a HUGE impact on the community if we don't provide sufficent parkings.
ReplyDeleteBUY THE SPACE!
9:38-
ReplyDeleteYou don't have to be an expert to see that the proposed price of $300,000 per acre is way more than the land is worth. Just because the County wants to buy it does not increase its fair market value, which assumes that there are buyers for the property -- if there are none then the property is really worthless.
In this case, the County is probably the only prospective buyer in the market for this land right now, which means that it is not worth very much, and certainly not anywhere close to those lots at the Centre at Salisbury.
9:59-
ReplyDeleteYour policy -- we got it so lets spend it, regardless of whether the price is appropriate -- is the reason why we have such high taxes and so little to show for them. How do you think that fund was created, pal.
9:59 - Remember, nothing is free, and, if the money will go to another county if Wicomico doesn't spend it, let it go to another county. Also remember, when it's time to vote again, don't vote for Pollitt.
ReplyDelete"Local Business":
ReplyDeleteOther than putting money in your pocket, what "impact" on the community comes from the poodle show and wrestling matches?
This mess and those trash cans, the park land near Hebron and many other things show that Pollitt and most members of this County Council can't be trusted with our taxes.
ReplyDeleteThe brilliant persons who ran Wicomico County back when the old building burned built a huge monstrosity and Pollitt wants to throw more money down the rat hole.
ReplyDeleteAll:
ReplyDeleteEven if the County should buy acreage at the old mall for more parking, the proposed price of $300,000 per acre is absurd. If elected officials don't insist on fair prices, we should dump them ASAP.
If a condemnation case were filed, the price would be much less.
Thank goodness for the Tax Cap that Pollitt complains about.
ReplyDeleteIn this economy, with the location being long vacant....low ball them! Offer 100k per acre for land no one else wants!
ReplyDelete11:27 --
ReplyDeleteDitto that, and file for condemnation if they don't agree to a faie price.
Its open space money! Keep it in our County: Everyone calm down and do some research, the Civic has been using this land for FREE for years. The Civic Center needs the parking. If you do not agree with the Open Space program is one thing but this money will not go back to tax payers.
ReplyDeleteThe land owners know the county wants and need this property. That being said, do not throw away the baby with the bath water. Give them a price that is market fair. If they don't want it, then too bad. Perhaps a refund of the TIF would be in order then.
ReplyDeleteI don't know what more has to happen until residents figure out what Rick is. Fire him!
ReplyDeleteThe real issue is not where the money should "go", but whether public officials should pay an absurd price just to spend it rather than send it back to the State, which could care less about the price under the O'Malley administration because it came from taxes ("other people's money"). Unfortunately, Pollitt and a majority of the Wicomico County Council feel that way too.
ReplyDeleteThe next state and county elections will be an opportunity to change things.
Who owns the property?
ReplyDeleteYou people that want to spend spend spend just for spending sake are as dumb as they come.
ReplyDeleteBuy the land to build a new civic center on then tear the other "non alcoholic" rat hole down and park there. This way the county can generate real money and have events that sell alcohol.
ReplyDeleteemminent domain take over lot. it's an eyesore.
ReplyDelete9:59
ReplyDeleteFree money? I think NOT Exactly where did it come from? Oh, Wait. Taxes, you say... NOT FREE!