Memo explains $1 million error, oops

Al Coby has sent the Pensacola City Council an email explaining that there are three appraisals for the airport property on which Sandspur Development wants to build a Hyatt hotel, not one as the staff had told the Enterprise Committee on Monday.

“Upon further review of the project files, it is determined that staff had answered the question (about the appraisals) erroneously. In fact, three appraisals had been obtained.”

Asmar Appraisal Company $6,480,000
Sherrill Appraisal Company $7,150,000
Brantley & Associates $7,000,000

Coby now recommends the ground lease be based on the $7 million appraisal. Julian MacQueen of Sandspur has agreed to the higher appraisal.

No one is identified as being responsible for this $1 million oversight.

Why did staff only give the council a partial report without any alternatives? Why did Nobles, Donovan and DeSorbo accept it without more questions?

I know staff met with council members individually on this. Still none of this came to light until Bob Kerrigan made an information request under the Freedom of Information Act.

Why does it take an attorney to get the information? Why wasn’t the file shown to the council?

Read airportmemo111908.pdf