Karen W. points out that by tearing Hoover down and rebuilding that capacity elsewhere, the district is spending fifteen million dollars to annex five acres of property to City High. That’s three million per acre – about a hundred times the going rate for undeveloped property.
My house happens to sit on about three-eighths of an acre directly bordering City High. I was very pleased to learn that my property must be worth $1,125,000 to the district.
The small neighborhood just south of Hoover, on 3rd Avenue and Dunlap Court, is almost exactly the same size as the Hoover property. The sum total of the assessed house values there is $3,628,520. Just wait until they learn that their houses are worth over four times what they thought.
But hey, I’m not greedy. I’ll sell for an even million. That’s an eleven percent discount! The district has enough financial sense not to turn down an offer like that, right?