I have to echo Mayor Ethan Strimling’s concern about the Portland City Council’s proposal (which was recently approved) to sell a lot to CPB2 for $400,000, rather than the $900,000 it’s appraised at.
As a longtime Realtor, I’m used to properties selling at a discount because there is work that needs to be done. But in this case, the city is planning to sell at the discount and do the work.
There may be considerations that aren’t mentioned in the Press Herald’s coverage, and I’d like to see someone from the council come forward to explain the logic. Selling at something of a discount from the appraised price because the overall improvement is in the best interest of the city could certainly make sense, but more than 50 percent off?
On the face of it, it seems like way too much is being given away. I think the City Council owes us insight into their decision.
David Shedd
Portland
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