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American Dream or American Nightmare: Part IV



It seemed that the focus of Claud Lois and others on the project team for Foxconn have concerned themselves with the larger properties possessing indifference to any property owners representing smaller parcels- purely from an empirical/mathematical sense, a rhetorical argument could be presented to support the notion that there is only so much money and the larger parcels are needed more than the smaller ones. However, as elected officials the Mt. Pleasant board must measure the cause and effect that each and every move it makes has on its own citizens- they are whom they represent, aren’t they?

Let’s say the total need is 1,000 acres for the Foxconn Project, and the ratio used to price larger agricultural parcels is actually 6.0- in other words, if the present value of an acre is $8,000.00 then the offer for purchase per acre would be 48,000.00 per acre. In all fairness, even the smaller property owners should receive the same multiplier for their properties- In this scenario, a third party could come into the Mahoneys house, do a full Fannie Mae appraisal and then the offer from Mt. Pleasant would be 8 times the appraisal amount. So, let’s just say for expository purposes that the Mahoney’s are upside down on their house and it is only worth 250,000.00- which, by the way, is 135,000.00 less than the amount they paid for the property and its improvements to date- even if this were a dispute regarding property value a third-party mediator could easily arrive at a 1.5M fair purchase amount, just using the same multiplier as with the other properties acquired in this process? Such is not the case.

Read the other parts of the series here:

Part I     Part II      Part III     Part IV     Part V     Part VI     Part VII     Part VIII

mount pleasant family forced to move out of dream home thanks to Foxconn