The Saga of the Mystery Grant: Discovery of A letter of Understanding

You may wish to review the following earlier stories, to fully appreciate all the facts:

http://boonecountywatchdog.blogspot.com/2009/01/mystery-grant.html

http://boonecountywatchdog.blogspot.com/2009/01/light-into-sewer.html

http://boonecountywatchdog.blogspot.com/2009/01/mystery-grant-is-actually-phoenix.html

http://boonecountywatchdog.blogspot.com/2009/01/register-stars-take-on-phoenix-project.html

http://boonecountywatchdog.blogspot.com/2009/01/update-on-sewer-grant.html

Even though many board members and the grant writer were not aware of it,  a memorandum of understanding does exist  between Boone County and the Kensington  Group.  I have copies of it below:  Click to enlarge.

 

From what I can gather, if the sewer extension grant is approved the assisted living project will begin before the end of Summer 2009.  That means that a lease agreement for the land must be signed before the digging begins.  While such real estate negotiations can be done in closed session, I believe that the public should know what is the board’s intention.  Will this lease be at fair market value or will it be considered another  financial incentive for the owners of the assisted living facility?  The county board has already pledged $110,000 which is held in two charitable trusts as a donation towards this project.(See photocopy below, click to enlarge)  Are there additional costs to the taxpayers?  What is the worth of the eight acres? At $50,000 an acre that is $400,000?  It is next  to the land fill, does that make it worthless?  With water and sewer, should not the land value be quite high?

Kensington Group also owns and operates Northwoods Nursing Home.  The real estate tax assessment at that institution has been in a appeal status since 2003 and still has not been finally adjudicated.  Is it not reasonable to negotiate a mutually agreed assessment for this facility prior to signing a lease for the land?  Such action is being done in regards to the Peaker Energy Zoning Request, why not here with the lease to the assisted living facility?