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| KISTON WANTS TO RENEGOTIATE |
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WENGNews writes, "THE THOUSAND POUND GORILLA TO CHARLOTTE COUNTY COMMISSIONERS MAY HAVE JUST GOTTEN A BIT HEAVIER. KITSON AND PARTNERS, THE PROSPECTIVE DEVELOPER OF MURDOCK VILLAGE TOLD COMMISSIONERS ON TUESDAY THAT THEY NOW ONLY WANT TO PURCHASE FORTY OF THE 870 ACRES ON THE PROPERTY AND DEVELOP IT INTO SHOPS, AND THEY WANT TO PUT OFF BUYING THE REST OF THE LAND FOR UP TO TWO YEARS. KITSON ALSO SAID IF COMMISSIONERS GOT A BETTER OFFER, HE ENCOURAGED THEM TO TAKE IT. COMMISSIONERS GRANTED A THIRTY DAY EXTENTION TO KITSON TO WORK OUT THE DETAILS OF THE PROPOSAL, BUT SOME COMMISSIONERS WERE OPENLY SKEPTICAL OF THE NEW OFFER. COMMISSIONER ADAM CUMMINGS SAID THAT BASED ON THE ONE PAGE PROPOSAL HE RECEIVED ON MONDAY, HE WOULD BE INCLINED TO VOTE AGAINST IT. KITSON ORIGINALLY OFFERED TO PAY $72 MILLION DOLLARS FOR THE ENTIRE PIECE OF LAND BACK IN OCTOBER, WHICH WAS STILL MORE THAN $30 MILLION DOLLARS LESS THAN WHAT THE COUNTY OWED ON THE LAND DUE TO RISING INTEREST COSTS, WHICH ARE NOW AT $16,700 A DAY. COMMISSIONERS WILL DECIDE IN APRIL IF THEY WILL ACCEPT THE NEW OFFER FROM KITSON. "
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Posted on Feb 27, 2008 05:56am.
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