techno-ag said:
Another question on the dollar lease. When I bought my last house, the public record had some modest amount like $10, IIRC. This was to obfuscate the exact amount in public records. I wonder if something similar happened here. That would explain the silence around the lease amount.
Not saying for sure, but it would explain the reticence.
Thanks. Looks like it says "base rent" is $1.FishrCoAg said:techno-ag said:
Another question on the dollar lease. When I bought my last house, the public record had some modest amount like $10, IIRC. This was to obfuscate the exact amount in public records. I wonder if something similar happened here. That would explain the silence around the lease amount.
Not saying for sure, but it would explain the reticence.
The payment is stated as $1.00. The cases you refer to usually say $x and other consideration.
well, not for ag use. It's on 47 across from the health science center. they are going to want someone to building something on itmaroon barchetta said:
They aren't going to sell it.
TexasAggie_02 said:
How is the BBC making payments on a $12.8 million dollar loan with only $1 income?
Chrundle the Great said:TexasAggie_02 said:
How is the BBC making payments on a $12.8 million dollar loan with only $1 income?
I wondered this too, but it's not impossible that they had 12.8 in reserves and bought this in cash.
it could service the debt they probably incurred on the land purchase.Mr.Short-termMemory said:I don't know if they have staff or assets to maintain either. If not, having a lease could ostensibly make a profit. Which as you mentioned, they cannot have.Chrundle the Great said:
Non-profits can generate revenue just not profit. So the money made on the lease could go to paying BBC staff (if there is I don't know the specifics), purchasing more property, maintenance on assets they do own etc.
2019 taxes (most recent that i can find), show that they had 5.1 mill in cash at the end of 2019.Chrundle the Great said:TexasAggie_02 said:
How is the BBC making payments on a $12.8 million dollar loan with only $1 income?
I wondered this too, but it's not impossible that they had 12.8 in reserves and bought this in cash.
They could sell to an investor or developer who wants or needs to sit on it for a year or few months, and would greatly appreciate having that ag exemption in place.TexasAggie_02 said:well, not for ag use. It's on 47 across from the health science center. they are going to want someone to building something on itmaroon barchetta said:
They aren't going to sell it.
techno-ag said:They could sell to an investor or developer who wants or needs to sit on it for a year or few months, and would greatly appreciate having that ag exemption in place.TexasAggie_02 said:well, not for ag use. It's on 47 across from the health science center. they are going to want someone to building something on itmaroon barchetta said:
They aren't going to sell it.
Another Doug said:Yet the shakedown has not been denied.Mr.Short-termMemory said:Part of the story can be true without all of the story being true. Cattle could be stressed, money could be lost, that could be mentioned to the plane owner. He took it as a shakedown. It may not have been meant that way.Another Doug said:If they didn't shake down the plane owner, why did the press release bother to mention all the money lost because of the plane landing.cgdorn said:
I just heard about the stress claim from that blogger that is trying to sensationalize this to get clicks to their blog. That is hilarious.
Agreed but, to make a sale attractive cities in Texas often wave property taxes a while to lure lucrative businesses into the city limits. If a developer knows they can hold a property at ag value a few months, that's a potential net positive for our community.FishrCoAg said:techno-ag said:They could sell to an investor or developer who wants or needs to sit on it for a year or few months, and would greatly appreciate having that ag exemption in place.TexasAggie_02 said:well, not for ag use. It's on 47 across from the health science center. they are going to want someone to building something on itmaroon barchetta said:
They aren't going to sell it.
One goal of the city/BBC SHOULD be to get the property back on the tax roll at full market value to generate tax revenue for all the taxing entities as well as to attract new businesses.
Ok then put it out for bids, to any agriculture producer.techno-ag said:They could sell to an investor or developer who wants or needs to sit on it for a year or few months, and would greatly appreciate having that ag exemption in place.TexasAggie_02 said:well, not for ag use. It's on 47 across from the health science center. they are going to want someone to building something on itmaroon barchetta said:
They aren't going to sell it.
Reload84 said:
Is it true the aviation guru on YouTube is coming to town next week to dig up more on the story? This is unreal and illustrates our local "journalists" need a Journalism 101 course to get beyond the pay for play fare. I want the rights to the movie!
I'm no expert but I think the state limits for going out for bids exceed $2000. In other words, the amount is too small to require bidding.doubledog said:Ok then put it out for bids, to any agriculture producer.techno-ag said:They could sell to an investor or developer who wants or needs to sit on it for a year or few months, and would greatly appreciate having that ag exemption in place.TexasAggie_02 said:well, not for ag use. It's on 47 across from the health science center. they are going to want someone to building something on itmaroon barchetta said:
They aren't going to sell it.
I am no expert, but wouldn't a lease on a 200 acre plot of well located land exceed $2000/year?techno-ag said:I'm no expert but I think the state limits for going out for bids exceed $2000. In other words, the amount is too small to require bidding.doubledog said:Ok then put it out for bids, to any agriculture producer.techno-ag said:They could sell to an investor or developer who wants or needs to sit on it for a year or few months, and would greatly appreciate having that ag exemption in place.TexasAggie_02 said:well, not for ag use. It's on 47 across from the health science center. they are going to want someone to building something on itmaroon barchetta said:
They aren't going to sell it.
And, I'm still thinking there may be additional income beyond the "basic rent" mentioned in the contract, though don't know for sure of course.
techno-ag said:They could sell to an investor or developer who wants or needs to sit on it for a year or few months, and would greatly appreciate having that ag exemption in place.TexasAggie_02 said:well, not for ag use. It's on 47 across from the health science center. they are going to want someone to building something on itmaroon barchetta said:
They aren't going to sell it.
Maybe I'm reading it wrong, but if a 100 acre pasture leases for $1,000/year, it seems a 200 acre pasture would go for $2,000/year.doubledog said:I am no expert, but wouldn't a lease on a 200 acre plot of well located land exceed $2000/year?techno-ag said:I'm no expert but I think the state limits for going out for bids exceed $2000. In other words, the amount is too small to require bidding.doubledog said:Ok then put it out for bids, to any agriculture producer.techno-ag said:They could sell to an investor or developer who wants or needs to sit on it for a year or few months, and would greatly appreciate having that ag exemption in place.TexasAggie_02 said:well, not for ag use. It's on 47 across from the health science center. they are going to want someone to building something on itmaroon barchetta said:
They aren't going to sell it.
And, I'm still thinking there may be additional income beyond the "basic rent" mentioned in the contract, though don't know for sure of course.
"a landowner leasing 100 acre pasture to graze cattle could structure payment as $10 per acre, as $5 per head, or $1,000 per year."
This is for land in the country.
https://tscra.org/texas-ag-law-blog-common-ag-lease-payment-structures/#:~:text=Cash%20leases,-The%20most%20common&text=For%20example%2C%20a%20landowner%20leasing,or%20with%20a%20flat%20fee.
I'm down for a concert venue. That would be a good spot for it, I think.toolshed said:
Couldn't have someone one upping Sharp!
I heard a rumor, can't recall where, that a pharmaceutical company was looking at it. But the source was not a likely one, so I'm not repeating it as a real possibility.
Every lease I've been involved with has monetary penalties involved for breaking the lease. As I read this lease, the 10 year term only has a bearing on the amount (the suspiciously low $1), otherwise it's a month-to-month lease. This isn't really a 10 year lease.cslifer said:
Every lease I have been involved with has had something about how parties can terminate the lease. In this case it happens to be 30 days notice. It is a ten year lease.
techno-ag said:Not sure how many cattlemen around here are looking for more pastureland to lease under those stipulations. Mind you, I'm sure we could find some, but the typical City of Bryan citizen city slicker would neither need nor want a lease like that.doubledog said:So a umbrella insurance policy of $1M which is about $200/year... Total cost about $201/year... Where do I sign up!Chrundle the Great said:
Wtaw Bill Oliver just did a news break on 1150 discusing it. Pretty much paraphrased the kbtx article but right at the end added "Rafter d pays the bbc 1$/year to lease the property but is required to hold $1 million in insurance"
So there's a somewhat official confirmation of the $1 lease and a new twist that I guess the BBC is going to use to justify the cheapness.
Ok. They'd still have to vacate the premises in the event of a sale. That can't be convenient.BQ_90 said:techno-ag said:Not sure how many cattlemen around here are looking for more pastureland to lease under those stipulations. Mind you, I'm sure we could find some, but the typical City of Bryan citizen city slicker would neither need nor want a lease like that.doubledog said:So a umbrella insurance policy of $1M which is about $200/year... Total cost about $201/year... Where do I sign up!Chrundle the Great said:
Wtaw Bill Oliver just did a news break on 1150 discusing it. Pretty much paraphrased the kbtx article but right at the end added "Rafter d pays the bbc 1$/year to lease the property but is required to hold $1 million in insurance"
So there's a somewhat official confirmation of the $1 lease and a new twist that I guess the BBC is going to use to justify the cheapness.
You'd have dozen people jump on that lease in seconds. I know people that live in Caldwell work on Bryan and lease pasture in Whitehall because that's all they could find. This $1 lease is crazy, you'd find people that'd pay way more
Grazing leases just aren't easy to find
I'm not trying to argue that it's not an amazing deal, just saying that it offers no protection at all for the lessee other than the guaranteed low rate for a set period. It can be terminated at any time, provided the BBC gives written notice. At this point I'd almost bet money it gets terminated soon now that it's come to light. To me that's not really a 10 year lease.cslifer said:
Except with that lease, that we have all seen, there are none. That is a ten year lease. If we were to talk about penalties, let's say it is 5 years of lease payments…$5. I'll take that in a heartbeat. If you were to make the argument it is month to month, it is month to month at 8 CENTS which is also an amazing deal.
techno-ag said:Ok. They'd still have to vacate the premises in the event of a sale. That can't be convenient.BQ_90 said:techno-ag said:Not sure how many cattlemen around here are looking for more pastureland to lease under those stipulations. Mind you, I'm sure we could find some, but the typical City of Bryan citizen city slicker would neither need nor want a lease like that.doubledog said:So a umbrella insurance policy of $1M which is about $200/year... Total cost about $201/year... Where do I sign up!Chrundle the Great said:
Wtaw Bill Oliver just did a news break on 1150 discusing it. Pretty much paraphrased the kbtx article but right at the end added "Rafter d pays the bbc 1$/year to lease the property but is required to hold $1 million in insurance"
So there's a somewhat official confirmation of the $1 lease and a new twist that I guess the BBC is going to use to justify the cheapness.
You'd have dozen people jump on that lease in seconds. I know people that live in Caldwell work on Bryan and lease pasture in Whitehall because that's all they could find. This $1 lease is crazy, you'd find people that'd pay way more
Grazing leases just aren't easy to find
