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DeKalb, IL | 64.8° |
Here We Grow
There's no way THIS farmland could be worth so much because selling it to a residential or commercial developer is out of the question. There can't be anything built on it.
Just another example of the mismanagement I was (rather badly) talking about last night.
Thanks Mac! I finally found some farmland close by for sale:
Monroe Center, $8,800 per acre
Hypthetically, even if DeKalb farmland might be worth three times more than farmland about a county away (which I doubt!), that would be around $26,400, which is still far less than both parcels by the airport.
I do not believe in overspending anywhere, be it local, state, federal, and/or TIF. All these things come from one pot, the taxpayers.
City Manager Press Conference Videos are here with Enhanced AUDIO. In the initial posting, the Audio portion was at a very LOW volume.
Part 1: http://www.youtube.com/user/DeKalbILLINOIS#p/a/0/…
Part 2: http://www.youtube.com/user/DeKalbILLINOIS#p/a/u/…
Part 3: http://www.youtube.com/user/DeKalbILLINOIS#p/a/u/…
Part 4: http://www.youtube.com/user/DeKalbILLINOIS#p/u/3/…
I have an off topic question. What is the going rate for farmland per acre? In looking at the back up materials, the city wants to purchase 47 acres (the Winter property) near the airport for what I calculated to be $45,000 per acre. There is another desired purchase near the airport of 25 acres (the Faivre property), for what I calculated to be $36,000 per acre. I believe those properties are farmland.
Kay… According to the Illinois Society of Professional Farm Managers and Rural Appraisers (ISPFMRA) prime farmland sold during 2006 ranged from $3,600 to $10,625 per acre, the latter price tag found on an 80-acre field with a productivity index of 141 in DeKalb County sold in September 2006.
Just a guess but I think the land prices you've noted over by the airport are buoyed at least somewhat by the injection of federal grant monies. I think its safe to say that anyone who needed bank financing to purchase those lands at those prices would be in for a very hard time.
[…] Find video of it at DeKalb County Online. Thanks, Mac. […]
Hey, I see you got all the good stuff in. Where I got cut off was on a question something like, "If you had to do it (the Wogen hiring decision in view of current circumstances) over again,…" and I never got back to it.
I also asked about Wogen's having consulted the city attorney for advice, since his statements make it unclear whether it was Wogen the alderman or Wogen the contractor who sought the advice. Turns out it probably wasn't Wogen directly consulting her, but rather the public works director doing a routine check — or, that's what they think he meant at least.
In unrelated but good news, the city got a much better deal on road salt this year than in the past two. They plan to continue the frugal salting plan this winter, though.
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