The bylaws of the CRA state:
"ARTICLE VII -- DISPOSAL OF CRA REAL PROPERTY
The sale, lease, disposal or transfer of CRA real property, or any interest therein, shall be consistent with the Act and approved by City Council. The Board shall strive to obtain market value for the sale or lease of any CRA-owned land, or clearly state for the record the reason(s) the transaction is below market value."
The fair market appraisal for the property was $1,740,000
Proposals Received Purchase Price Percent of FMV of Property
- Whitesell - Hagen $1,280,000 73.5%
- ITEX $1,000,000 57.5%
- Gunther $1,100,000 63.2%
- Granger $1,200,000 70.0%
- Aragon $1,309,000 75.2%
- Bob Montgomery
- Jim Reeves
- Justin Witkin
- Neal Nash
- Eric Nickelsen
- Sonny Granger
- William Whitesell
- Levin Rinke
- Robby Booth
No one ever discusses giving Quint Studer a discount off of Fair Market Value when he is involved with a deal.
Why is that? Full price for Quint....25% off for Good Ole Boys?