DEFUNIAK SPRINGS - Walton's Board of County Commissions gave the OK to William Wilson's representative, attorney George Miller of DeFuniak Springs, to go forward with attempts to secure over $10 million from private investors and grants for the purchase of an approximately 3.3 acre beachfront property near Angelo's, for conservation by the county.
If the plan succeeds, the property's value has almost doubled since June 2004.
The owner will realize all of the profits from the sale, said Mike Burke, interim county attorney.
Miller also requested the BCC grant the maximum density on the development order of the property, which would double the number of approved units allowed on the site from 13 to about 26. According to Miller, the land must have development potential for the investors to receive tax benefits from the donation.
Miller also said the increased density would be an incentive for the owner if he could not arrange for the donation of the land through private investors and grants, although he said the owner had no intentions to develop the land.
Miller expects to raise half of the money from private investors and the other half from grants but if the whole amount cannot be raised he will not hesitate to return to the county for assistance, he said.
Ronnie Bell, County Administrator, said the appraisal came in a little more than $10 million.
The land was originally purchased by Will & Sikes Inc. on June 22, 2004 for $6 million, according to the Walton County's property appraiser Website. The land is vacant and has no improvements. The property now has a tax value of $6,340,023.