Tag: LEDC wants a mulligan

LEDC Wants To Take a Mulligan On Biz Park Appraisal. Says It’s Too Low – Want To Pay Another Appraiser To Redo It.

Even as they are trying to unload some of the goat pasture, they wind up spending piles of money and spinning wheels. Hilarious! I expect nothing less with Misti Talbert running the show.

Summary:

A few months ago, the LEDC wanted about 80 acres of the goat pasture appraised for possible sale. They retained Herbst Real Estate (who did the ORIGINAL appraisals way back in 2005 time frame).

A few years ago (August 2022), they hired a DIFFERENT company to appraise the goat pasture and were given a number that, in my opinion, was completely insane and nowhere close to reality: about $130,000 per acre. I did some digging on this “new company” and found some unsavory things about them:

    Same Company That Appraised Business Pork at Ludicrous Valuation Was Previously Sued For….Inflating Land Values (Among Other Scumbaggery)!

    NOW, fast forward to today, and the LEDC is miffed at the most recent Herbst appraisal, saying it is too low. Naturally, there is a minor clusterfuck involved.

    From the LEDC minutes:

    “Board member Finney believes the adjustment grid is significantly off. He does not agree with the appraisal amount. He found a few mistakes; therefore, he feels the appraisal is lacking validity….the board feels that the appraisal is too low. The appraisal document stated that the appraiser was asked to not use commercial properties as comps. City manager Erin Corbell stated that was not true. He was told to use the highest and best comps. The board and City manager discussed having it re-appraised by a non-local, non-biased appraiser.”

    Non-biased? Why would you think Herbst is biased? Wouldn’t a local place be “biased” the other way? And if there is a disagreement about what the “appraisal document” actually said, why don’t you just whip it out and look?

    I’ll request a copy of this appraisal doc, but it’ll take 10 business days, like everything else they drag their feet on. In fact, I’m STILL waiting for the “conflict of interest document” that should have been produced when we found out that City manager Corbell is currently dating “Greasy” Chris Harrison, the guy with many, many City contracts under his belt.

    Ya’ll didn’t forget to round me up that doc, did you???