FORT APOPKA PROJECT - FINANCING

Fort Apopka Project – Financing

(Sales Comparison and Assessed Value of the land)

          

The asking price for approximately 12 lots of land surrounding Davies Court just south of the Bus Stop is $650, 000. 

      

However, there are some discrepancies as to how much the land is really worth.  Of the three owners, one of them is liquidating and willing to sell his four lots for $20,000 each.  He will let them all go for an asking price of $75,000, but indicates that he would probably accept a much lower offer as he is desperate to get out of it.  I think it could be easily bought for $50k or $60K at the most.

         

In the back three lots of that same row the owner is asking $100,000 per lot.  The front section across Davis Court and bordering Park Avenue has never been subdivided and the owner is also desperate to sell and will let the whole thing go for $275,000 asking price. 

        

Those same lots are appraised for $116,000 for tax purposes.

       

The lots of the same size across from the Bus Stop the owners want $500,000 for that size of lot. 

         

I believe that if the first transaction with the four front lots for $50,000 could be made, then it is fair to say that the current Market Value of the land is realistically $12,500 per lot because of its proximity to a largely undeveloped and  high crime area.  Plus, its current state is unsightly, and some work would have to be done to beautify it the area before building of the Fort could begin.

                  

At that point the current Market Value puts the back three lots at $37,500.  And since the parcel south of Davies Court is yet undivided but seems to extend to just two lots short of the road, it must be about equal to about 5 lots.  If that is true the Market Value of the land south of Davies Court is currently $62,500.

So, it seems to me that the fair market value of all three parcels must be about $150,000 rather than the $650,000 they are asking for it.

Even if you averages the Assessed Value ($116,000 per lot) with the Current Market Value ($20,000 per lot) to arrive at a figure in the middle for all three parcels it would only be $133,000 to buy all of the land. 

If the City of Apopka could not afford to buy it outright, then a private investment consortium could be put together of interested land owners, business owners, and private Citizens who could donate $1000 each to purchase the land for the Fort.  We would only need 140 donations of $1,000 each to reach our maximum cost to purchase the land.

Or the Consortium and the City could share the burden in some fashion.  Either way, the highest and best use of the land would be reached, and it would add to the value of the next block south, east, and across the Bus Stop and Train Tracks.  The return on the investment should be astronomical as land prices rise and development goes in to support the new increased vehicular and foot traffic in the area.

The benefit to the local economy would be a huge shot in the arm for downtown Apopka in terms of Jobs for South Apopka, and new money circulating in our downtown economy.

MR. SMITH GOES TO APOPKA

Mr. Smith goes to Apopka

 (This story takes place sometime in the near future)

Little Billie Smith is sitting in the backseat behind his Dad (Buddy Smith) at the rather long red light at the corner of Park and Main Street in Apopka.  He’s a little confused because they’ve changed stuff in this area and it looks a lot different than the last time they drove through. 

The family was on their way from their home on the edge of Altamonte Springs to Mount Dora for an evening of window shopping, walking around,  and dinner out.  Dad had set aside a little money for the evening and he figured he could afford dinner out if they didn’t drink alcohol.

Little Billie suddenly sees something down Park Avenue out the back window.  A Frontier Fort is sticking up just above the large Oak Trees about four blocks away on the other side of the Frontier Bus Stop.  There is also the biggest wooden castle playground right in front of it next to the Bus Stop.  He pokes his Dad’s shoulder.  “Dad, look.  They built a Fort in Apopka.” 

The Dad turns his head and sees the old wooden Fort.  “Wow!  They sure have changed this place.  It looks a lot different than it used to.  Honey, can we go check out the Fort?  It’s Free I think.” 

              

Mrs. Smith has seen the Fort too.  Her daughter Casey has been struggling in school (particularly in American History) and this would be a great way to give her a History lesson that seemed like fun to her.  Knowing that the father and son both are excited to go, she turns to the daughter and says, “Casey, do you want to check out this Old Wooden Fort before we go on to Mount Dora?”

    

Casey has seen the Fort, and it’s pretty cool, but clearly a guy thing.  But, she has also seen the massive wooden castle shaped play area behind the Frontier looking Bus Stop. 

 

She figures that she has the leverage to make them go there afterwards, and she makes a secret pinky promise with her brother that they are going to convince Mom and Dad to go to the playground after the Fort because Billie thought the wooden playground was pretty cool.  It certainly was the biggest one he’d ever seen.

So, Mr. Smith turns left at the light instead of going straight, and they look for a place to park and check out the Fort.  He makes a mental note that the area surrounding the Fort looks like a little Frontier Village, and he thinks he may be able to convince his wife to walk around a little bit after they check out the Fort.

As he pulls around to the paid parking garage, he sees a little frontier ice cream parlor across from the Frontier Bus Stop, and he makes a mental note that he could always take the kids there for an ice cream to hold them over until they get to dinner in Mount Dora.

They find out that it’s a $1.25 to park in the four story parking structure, but they’re anxious to see the Fort, so Dad quickly shells it out and they park. 

The Fort was amazing.  They had built a true to life , authentic 1700’s Frontier Fort and put volunteer docents in as characters in the authentic buildings,  teaching people what Blacksmithing, or Candle Making, or Laundry was like back in the 1700”s inside a temporary wooden Fort with a million Indians outside trying to kill you. 

                        

The docent characters in the Fort explained how they found old Rail Road Ties to build the Fort along the old Rail Road tracks.  They just sharpened them like huge pencils and stuck them in a berm around the property.  Ingenious! 

                      

They also did a futuristic twist to it by hiding Tiny Homes in the trees, under the ground and in the bushes.  You couldn’t even tell that they had 100 homes hidden in there.  Buddy actually found out that he could put his family in a Tree House Tiny Home for $100, 000.  He’d have to think about that.

                  

After touring the Fort for an hour or so, they headed to the wooden playground to let the kids run around a bit.  Mrs. Smith says, “Boy, this sure was a lucky find.  The kids are having a great time!”  Mr. Smith nudges her arm and points to the Ice Cream Shop.  “Great idea!  That will hold them over until we get to Mount Dora.  I like how you think!”

 

After about an hour on the playground the kids have to be coaxed to leave and Mom finally blurts out that they can get an Ice Cream across the street.  So, they go have Ice Cream. 

    

Dad gets the ice cream while Mom and the kids look at the statues of Zanders and Michael Gladden. Since it’s such a beautiful day they opt to sit outside in the shade.         

Now, while they are sitting outside the Frontier Village General Store at the picnic tables next to the Frontier Ice Creamery, they notice that there are some curious looking statues up by the Train Tracks.  There are more pencil sharpened rail road ties lining the buildings on the other side of the tracks and beyond them that said “Welcome to Old Town Apopka” with an arrow pointing left.

It looks odd and interesting up there so, the family agrees that they will go check out the statues by the Train Tracks after they finish their Ice Cream Cones.

The metal statues at the Train Tracks are very strange.  There is a sheriff’s car over the tracks sideways, with the Sheriff honing his horn.  A little black boy with a panicked look on his face was running south towards the tracks on the North Side, and a guilty looking white man was hurrying north towards the tracks.  The historical plaque explained that Apopka had a segregation law until 1969 that prohibited Whites from living South of the tracks, and Blacks living North of the tracks.  The Sheriff is honking his horn because it’s dusk and therefore almost time for bed, and you better get back where belonged or you were going to be in trouble with the Sheriff.  That was an interesting tidbit about Apopka History.  They didn’t know that before.

    

As they are reading the plaques Dad’s stomach starts to grumble and he realizes that all this extra walking has left all of them famished and it’s still quite a drive to Mount Dora.  Plus, their car is way back there, several blocks away now.  Just beyond the Melodrama Theater and the Apopka Community Center Dad’s sees that there are two restaurants on the corner.  Argos, a local Greek place, and something called The Spaghetti Factory.

The whole family sees where Dad is looking and practically drooling so they all decide to go to Argos for some Greek food.  The whole family LOVES Greek food and actually either place would have been great.  Maybe next time they come to the Fort they can eat at the Spaghetti place.  On the way past the Melodrama they pick up a brochure to read, and again at the Apopka Community Theater.  They opt to sit by the window at Argos, although the patio dining looks nice too.

    

While they are sitting there by the window eating their Gyros and Cucumber Salad, dusk falls on Old Town across the street.  The City of Apopka had brought old wooden buildings from the turn of the century and added gas lamps with actual flames coming out of them.  Dad had to admit it was pretty cool.  It made you feel like you were transported back in time.  Then the magical carriage ride came by, clip clopping down the bricked streets of Old Town Apopka.

They rode the Magical Carriage Ride after dinner.  It let them out at the back of a souvenir shop that said, “I Love Apopka.”  On the way through Dad went hog wild because they were having such a magical evening and bought a Darter Key Chain, a Darter Hat, and a Darter license plate.  Not to be outdone Mrs. Smith bought a Mustang license plate, a mustang key chain, and a mustang coffee mug.  Both kids got a token gift.  The whole family took an old timey tin photograph and Dad shelled more money to preserve the memory of a perfect evening.

               

Outside the I Love Apopka T-Shirt shop they hopped on the Old Town Trolley Bus (thankfully free), and boy were they relieved when they realized that they didn’t have to walk all the way back to the parking garage for their car, and Dad didn’t have to shell out any more money because he really over-spent this time and admitted it out loud. 

However, the Smith family had a great time together and they all know they are coming back again.  On the way home they discuss how the Community Center in the Old Fort would be perfect for Mr. Smith’s Sisters upcoming wedding.  Her fiancé is a big History Buff, and that would be a fantastic place for them to get married.

    

They both agreed that they should take his sister back the very next day.  They could show her the Fort, eat at the Spaghetti Factory, and go to the Melodrama Theater for a show. Boy, are they glad Billie spotted Fort Apopka sticking out of the trees. 

And of course they will tell each of their 250 or so friends what a great time they had in the New Apopka. 

Questions to Consider:

1.     How did we get Mr. Smith to get out of his car?

2.     Why was he willing to pay a nominal fee for parking?

3.     How many times did Mr. and Mrs. Smith drive, walk, or ride exactly where we wanted them to?

4.     How did we accomplish that?

5.     Why didn’t they notice that we were directing them on where to go?

6.     How many extra times did we get Dad to reach into his wallet after the $1.25 parking garage fee?

7.     At what point of the story did we take Dad’s eating out budget from Mount Dora?

8.     At what point in the evening did Dad start overspending?

9.     What all did Dad get for free that kept him happy while he was overspending?

10.                          Why are they coming back if they think they spent too much?

11.                          How much do you suppose the four adults will spend tomorrow night in Apopka?

12.                          How much revenue will the wedding bring?

13.                          How many more families will see the new area when they attend the wedding?

14.                          How many of their 250 friends they will tell about it if they have a really good time?

15.                          What’s the purpose of the free trolley ride at the end of the story?

16.                          Don’t you see how easy it would be to do this exact thing 4 blocks south of City Hall?