Is Todd Levent correct about reckless spending?
Incumbent supporters are going door to door telling citizens
that the jail site was a good deal and that Todd is not telling the facts.
Mr. Harrell admits he voted to buy the tract. He should know the facts.
Here are facts and source documents from the Forsyth County Tax Assessors Office on the Jail Site: Parcel: c19-002. Thanks to Todd for getting them.
- 2006 Fair Market Value $1,116,100 - - - - - owned by Hansard Family LLLP
- June 7, 2006 sold for $3,000,000 to Georgia Academy of Finance LLC
- June 7, 2006 sold for $3,686,000 to VMP Holdings LLC
- 1 day’s profit $686,000 - - - for whom? Why?
- July 5, 2007 sold for $7,105,295 to Forsyth County
- In total, a 13 month profit of $4,105,000.
Who are these folks? Did we know their cost basis?
- In total, a 13 month profit of $4,105,000.
- 2010 Fair Market Value $4, 295,000 - - - - - -
- 40% lower than purchase price;
- Does it reflect the site's issues?
Todd’s questions - - - - - - - - all citizens should ask:
- Why not the normal protection clause in the county purchase document? - -
“Contingent upon good site & soil conditions ” - Why not - - - - “Contingent upon Voter approval of the Jail project”?
- Why not adequate land to protect the adjacent sub-division?
- Why pay almost 7 times the Fair Market Value of a tract just 13 months before the tract’s purchase. Was this judicious spending, or Reckless - - - you decide.
The Tax Assessor’s supporting document can be viewed by clicking here.
www.SOS.GA.GOV\corporations gets you to the folks of the LLC's.
This summary of sales is from the Supporting Document:
| Sale Date | Price | Deed Book | Grantor (seller) | Grantee (buyer) |
|---|---|---|---|---|
| 07- 05-2007 | $ 0 | 4813-434 | VMP Holdings LLC | Forsyth County |
| 07-05-2007 | $ 7,105,295 | 4813-429 | VMP Holdings LLC | Forsyth County |
| 07-26-2006 | $ 0 | 4306-431 | VMP Holdings LLC | Smith Charles R et al |
| 06-07-2006 | $ 0 | 4308-703 | Georgia Academy of Finance LLC | VMP Holdings LLC |
| 06-07-2006 | $3,686,500 | 4307-700 | Georgia Academy of Finance LLC | VMP Holdings LLC |
| 06-07-2006 | $ 0 | 4308-698 | The Hansard Family LLLP | Georgia Academy of Finance LLC |
| 06-07-2006 | $ 3,000,000 | 4308-695 | The Hansard Family LLLP | Georgia Academy of Finance LLC |
Forsyth Citizens for Responsible Growth is a citizens committee that communicates with and supports 1,300 homeowners with a mission to achieve responsible growth in residential, business/commercial, and quality of life development in District 3 and Forsyth County.