the wts got burned a few years ago when they bought a prop in Kent NY and spent 5 years trying to get an Assy Hall developed there. The locals and the land use boards fought them like crazy. Then they bought and developed in Newburgh. I would guess the GB (or whoever is in charge) told them to hedge their bets- get options on 2 properties and see where the development would be easier ("where Jehovah's spirit directs" is how they would state it). Its a clever maneuver.
3 comments:
- you can accomplish this with an option to buy and not put the whole purchase price of the property at risk,
-the option doesnt have the effect of screwing with the local property tax assessments like an actual purchase does (can you imagine- $21 million- on the rolls, off the rolls, on the rolls- it would suck to live there)
-I still dont get why you disguise 50% of the purchase price as a "consulting fee"- that seems awful shady.