The attached document deals with the Klause property purchase that FIT successfully petitioned last year in order to stop the transaction due to excessive cost.
FIT was able to get more for less … FIT saved the city taxpayers $2.5 million dollars and was able to acquire more land along with the demolition of the building on the site which was not part of the original proposal.
This is a win for FIT, and a huge victory for Ocean City taxpayers. It demonstrates you can fight City Hall… and win.
From OC Sentinel: Fairness in Taxes (FIT), a local taxpayer group, claimed the $9 million sales price was too high, and started a petition drive to halt the sale and put the property sale to a public vote. The petition drive proved ultimately successful, and after the signatures were verified, the city repealed the property’s sale, ending the deal with Klause Enterprises
Front page article in Ocean City Sentinel > www.ocsentinel.com.
The city initially offer to pay $9 mil for four (4) parcels of land based on the development of 29 coastal cottages… which was NOT a permitted use. The city then received revised appraisals for the permitted use of 21 single family homes. The appraisals valued the land for $6.5 million. That was for five (5) parcels of land.