How much is it worth? | Arkansas Blog

Friday, October 30, 2009

How much is it worth?

Posted By on Fri, Oct 30, 2009 at 4:38 PM

Central Arkansas Water announced today they will hold a public meeting on Wednesday, Nov. 4, to discuss a lease-purchase agreement with the Trust For Public Lands (TPL) concerning the Winrock Grass Farm in West Pulaski County.  The land, over 800 acres, sits in the Lake Maumelle watershed and protecting that land has been a top priority for Lake Maumelle advocates.  The grass farm is owned by a group of investors who bought it in a deal brokered by Jay DeHaven

For some good background info on what the land is worth, read this story by Leslie Peacock.  The long and short of it is the land was appraised in April of this year for $5.4 million dollars.  CAW CEO Graham Rich will announce the particulars at a press conference on Monday, but said the agreement reached between TPL and DeHaven was somewhere close to $12 million (give or take $500,000) for 915 acres.

Rich said the initial appraisal, which DeHaven was none too happy with, did seem low.  A second appraisal, commissioned by TPL, came in at over $12 million -- a figure more consistent with what they've paid for land in the watershed before, Rich said. It will be interesting to find out some  more specifics, such as why a plot of land that was bought for $4.5 million in 2005, underwent zero improvements and appraised for $5.4 in 2009 will now sell for approximately $12 million.

TPL will buy the land from its current owners, then funds from investors, including CAW, the Arkansas Game and Fish Commision and possibly the U.S. Forest Service, will be combined with funds set aside by Sen. Bob Johnson to complete the transaction.  The press conference will be held at CAW headquarters at 5 p.m. Monday, Nov. 2.


Favorite

Comments (3)

Showing 1-3 of 3

Add a comment

 
Subscribe to this thread:
Showing 1-3 of 3

Add a comment

More by Gerard Matthews

Readers also liked…

  • Sabin's subterfuge in the race for mayor has roots in rigged city government

    The Arkansas Democrat-Gazette reports that an ethics complaint has been filed saying that the exploratory committee Rep. Warwick Sabin created to prepare for a run for Little Rock mayor was a subterfuge to avoid the city ordinance that doesn't allow campaign fundraising to begin until five months before the November 2018 election.Of course it is.
    • Aug 10, 2017
  • Use of solar on the rise in Arkansas

    With a pivotal ruling expected any day now from the Public Service Commission, Kyle Massey at Arkansas Business reports on the increase in Arkansans adding solar generation units on their homes and business.
    • Apr 13, 2018
  • Antwan Phillips wants to make a difference in reducing Little Rock violence

    KARK/Fox 16's push to do something about Little Rock violence includes a spotlight on people trying to make a difference — in this episode Antwan Phillips, a lawyer at Wright, Lindsey and Jennings.
    • Aug 30, 2017

Slideshows

Most Recent Comments

 

© 2019 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation