I guess we have all heard of the building swap being pushed forward. Let's get it straight ! The admin' is trading a building we own for one that The Levy's own. Israel wants to put Atlantic Broadband in the newly acquired building and thinks it's best for the newspaper to conduct their business in the clubhouse. Just a gosh darned minute! The clubhouse is supposed to be for recreational purposes only ! Does anyone know how much we are paying per square foot in the clubhouse? I bet it's a lot more than $1.00 a foot that Atlantic Broadband is going to be paying for their space. Does this make sense? Does this sound like a good deal ? NO ! it's not.
There's something else in this mix: The realty company has been occupying our building at $1.00 a year and no one has been paying property tax on it . You see; it's registered as a common element. Therefore no taxes are payable. BUT ! It's not really a common element. IT'S A BUSINESS ! Is there something not right about this ? YOU BETCHA!
Ergo: CV Real Estate gets our building and the land that goes with it, which is a lot more valuable than the land around the construction shack. They don't pay any tax on it if it stays under the common element designation and we pay WPRF for space in the clubhouse for the newspaper. We get the construction shack and pay the ongoing tax on it, and we let Atlantic use it at an unheard of price.
The dirty little secret about the whole deal is that David Israel added a clause to the Atlantic contract after the ratification vote giving them space at $1.00 a foot. That, in and of itself, should be cause to boot him out. If this deal doesn't work the way Israel wants to work it, he is going to find himself in a fine how do you do. Where is he going to find space at $1.00 a foot as he contracted? NOWHERE! that's where. WHAT THEN ?
The committee is dazzled by the promise of a fine new office space as promised, but it's not going to be much of an asset to the village while Atlantic uses it.
The real reason for the swap is to give Atlantic the space Israel signed for. Now he is trying to hornswoggle everyone with proclamations announcing what a great deal it is.
Don't get hornswoggled again. Tell CV Realty to put their business in the construction shack, they are willing to renovate it anyway, then put the paper in the building on East Drive where it belongs.
The uncensored Blog of Century Village, West Palm Beach.Florida. The blog is open for everyone to post comments, suggestions, and items of interest to CV'ers. Please be polite. No cussin, or fussin allowed.
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