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Developer disputes multi-parcel valuation at Grand Lakes Country Club, cites wetlands and gopher tortoises
Summary
A representative for the Grand Lakes Country Club buyer told Special Magistrate Colleen Millett the county overvalued several parcels (petitions 24-266, 24-267, 24-268 and 24-269), arguing that extensive wetlands, required permitting and gopher tortoise mitigation make the properties costly to develop and reduce 'as-is' market value. The Property
A managing partner for the private equity firm that purchased Grand Lakes Country Club and adjacent acreage told Special Magistrate Colleen Millett on Jan. 9, 2025, that four county parcels used in the acquisition are overvalued in the 2024 assessment roll because they are largely wetlands, contain gopher tortoises and require substantial permitting and infrastructure investment.
The petitioner (identified in the hearing transcript by the surname Arrighi and described as a managing partner) said the firm paid an allocation for the parcels as part of a larger purchase and expects it will require $2.8 million to $3 million or more in permitting and predevelopment costs to make the land buildable. “To get it permitted in any…
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