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Tuesday, December 21, 2004

Scout Ranch Sale Finally Complete

Excerpt from WCM Sunday December 19, 2004

“It is now official – the deal to sell part of the Boy Scout Ranch in west Wise County is complete. The price tag: $5.45 million, or more than $9,000 per acre.

News broke in January that the Longhorn Council of Boy Scouts of America was selling the northern 600 acres of the 3,000-acre Sid Richardson Ranch on Lake Bridgeport to a Dallas developer. . . .

After making arrangements for the subdivision to have 29 fire hydrants, its own sewer system and use Runaway Bay water, Wise County commissioners approved Femrite’s plans and Femrite moved a portable building to Bridgeport to set up a sales office.

. . .it was not until this week that the deal actually closed and the $5,450,000 sale price became public.”

For the entire story go to

http://www.wcmessenger.com/newsbindata/news/news/Pricetagofscoutranchsaleex.shtml


Neighborhood Comments. . .

“ . . .but, consider this . . .

$5,450,000 divided by 600 acres equals $9,083.33 per acre . . .BUT . . .

5 miles of waterfront equals 26,400 feet divided by 75 feet (the average waterfront lot on Bridgeport) equals 352 separate waterfront lots . . . about the cheapest undeveloped waterfront lot brings around $40,000. each . . .times 352 lots . . .equals $14,080,000.

Now figure out what the remaining part of the 600 acres are worth and THEN decide who got the best of that deal.”


“I think we need to send the sale info to the Trust for Public Land and other conservationist groups and ask some direct questions - Was this a bargain price for undeveloped wilderness land with that much waterfront on a very pricey lake? Would your organization have paid that much or more? Did the BSA get a good deal or was it a bad bargain?”

(Editor’s Note: Names withheld due to the BSA’s penchant for making threats when questions are asked and published by the media!)


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