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« Little engine that couldn't | Main | Much better than the part where Jack Nicholson sings »

Jan 10, 2008

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Spag

Well done, and Ed you deserve some credit too for writing about this issue on a frequent basis.

David Wharton

Hooray! Thanks to all those folks who donated time and energy to make this happen. We owe you all a lot.

John D. Young

Now that we will have a real state park we can all thank each other for a job well done. This was a massive, widespread effort of many in Guilford and Rockingham County. We heard several commissioners say that they received more letters, emails and phone calls on this issue than any other rezoning or land use issue ever.

Support for a real, viable and expanding Haw River State Park was very widespread. The beauty of this state park is that it will benefit us in may ways including of course the important purpose to preserve and protect this area of the Haw River corridor.

Roch101

What did Bluegreen agree to sell to the state? I kept hearing that Blugreen had an option on this property. In fact, I seem to remember that it would soon be expiring. Taft, John, anybody, did Bluegree exercise their option prior to this deal or are they going to as a result of it? Does anybody know the price Bluegreen has/will pay for the land?

John D. Young

Roch, I don't know yet all the details but basically the state has purchased the entire 690 acres of land from Bluegreen. Therefore, Bluegreen will pay all the property owners and fulfill their contractual obligation to them. The entire 690 acres will become part of the HRSP. My understanding was that Bluegreen's option/contract was about to expire and helped push the process along.

Roch101

Of course, if the Blugreen option had expired, the state could have negotiated directly with the landowners. I'm curious to know how much Bluegreen will pay for this land before they turn around and sell it to the state for $14M.

anglico

Great news. Great job. And here's hoping . . . great park!

Congratulations and thank you to all involved.

John D. Young

Roch, we had previously heard (we may never know the exact details) that Bluegreen's contract/option offered the property owners around $17,000 or $18,000 per acre for the 690 acres. So at the state's price of around $20,290 per acre Bluegreen should recoup/receive at least $1,500,000. I assume this extra money for Bluegreen has been at the heart of the months of negotiation between Bluegreen and the state. Bluegreen also may have had the ability to extend their contract/option with additional payments to the property owners.

However, it must have become clear to Bluegreen that any extension would not improve their chances of building Patriot's Landing. Rezoning in either Guilford County or Rockingham County appeared highly unlikely. And special permits for their septic system or their pumping of water from the Haw River also appeared unlikely.

John G

I am so glad to hear this. Those woods and fields were a big part of my youngster days; hunting and fishing. I am so happy to know they will not be a golfing community.
Hummmmmmmmm, wish I was young again.

David Craft

Bluegreen is selling it's option to the State. The State will purchase the property from the owners by the end of February.

Bluegreen is receiving the difference of the announced price of $14,000,000 +/- less the option price of $12,000,000 +/-.

The property owners should be receiving the same price from the State that Bluegreen would have paid.

Bluegreen is getting some money back for their expenses, such as surveys and site development.

Large parcels like this are hard to assemble and worth a premium. Bluegreen is walking away whole, but with little if any profit.

This parcel is absolutely key to the future of the park and worth every penny.

David Craft

The details of the purchase will come out in due time.

This is all public record.

Relax, a good thing happened for everyone.

David Craft

Ed,

Your help in this battle was invaluable!

Thanks,

David Craft
and CFHRSP

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