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Council approves airport lease renewal despite councilman’s appraisal concerns
Summary
The Vero Beach City Council approved a lease renewal for airport property despite a councilman’s objections about the appraisal and rental rates.
The Vero Beach City Council approved a lease renewal for airport property as consent agenda item e after a brief but pointed discussion about how airport property is appraised and priced.
Councilman Carroll said he could not support the renewal without seeing the fair-market appraisal and criticized the renewal terms as effectively giving away city land. “I can’t support this,” Carroll said, citing figures in the lease that he said equate to roughly $0.21 per square foot for land and about $0.09 per square foot for easements. Carroll told colleagues those rates appear far below current industrial and office market comparables for Indian River County and said the difference…
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