By Libby Cluett
lcluett@mineralwellsindex.com
At least one individual who witnessed the divestiture process evolve from the beginning is disappointed with the passing of both bills and impending sale of the Brazos River Authority's lakefront property.
In a 2007 House Natural Resources Committee meeting, former BRA board secretary Wade Gear called a similar divestiture bill, “welfare for the wealthy.”
“I think it is a disappointing outcome for the State financially to sell an asset valued at over $150 million for $50 million, but I think to finally have closure on the issue is a good thing,” Gear told the Index. “Unfortunately this closure had a price. A small group has manipulated the system for their own financial gain.”
“You need to remember that the president of the Possum Kingdom Lake Association and several members sued the Palo Pinto County Appraisal District and continue to appeal, claiming that they do not own the actual value in the land,” added Gear. “Yet, this same group has claimed to the Legislature that they have a greater value in the land than the BRA.”
Four lessees sued the Palo Pinto County Appraisal District over property value. After District Judge Jerry Ray ruled in favor of the appraisal district, the group of lessees filed an appeal in the 11th Court of Appeals in Eastland, Texas. The appeal is pending. A total of seven lawsuits over property values affected the 2008 PPCAD budget – all were disputes over property on or near PK Lake.
The anticipated beneficiaries of HB 3032 also sued the appraisal district over land market values. Because of the 2008 lawsuits, the PPCAD padded their 2009 budget with extra legal funds to defend the appraisal district, taxing entities and Palo Pinto County taxpayers.
“Some believe they are entitled to the right to purchase this land at a discount because they have leased it for so long. I do not agree, and having spent my career in the real estate industry I know this kind of deal would not take place in the private sector.
“I find it interesting that the pretense for these bills has been that the BRA ‘needs’ to get out of the land management business – a business that it has been in for over 50 years. Yet it was only after the BRA set a plan in place to raise the rental rates did this ‘need’ arise,” Gear concluded.
