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WHERE IS THE LAND WE PAID $928,000 AN ACRE FOR?

Source: Town of Pelham 2016 Audited Financials

So, it turns out we did pay the Allen Group $928,000 per acre for land.   The Town Council used the Excess Parkland Dedication by-law for this “parkland” that is promised.

But wait??!!?!?!  What is this?!?!?!  The deal closed in 2016.   Cash was provided to the developer in 2016!   Why does the 2016 Tangible Capital Assets table only show an increase in Land of $49,547?

Maybe that is what the Auditor’s think the real value is?    Who knows, but for sure, it…

Makes you go Hmmmmmmmm?!?!?!