Dauphin County General Authority: Forum Place Building - Appraised value $64 or $111 million?

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On January 18, 2012 the Forum Place building sold for $99,184,208. Air rights above the building sold for an additional $6.4 million. Minutes from the May and June Dauphin County General Authority board meetings were published in a lawsuit filed in Dauphin County court, during the June 15, 2011 meeting authority board member Doug Gelder questions the court appointed Receiver of the Forum Place building attorney Robert Chernicoff on appraisal reports provided by Jeffrey Walters.

From the June 15th meeting minutes. Doug Gelder "And I know that this appraisal says the information to do the cost analysis was not available when this appraisal was done. And that's bullshit. It was available; he just didn't do it. He took into account he wasn't gonna get paid a cent [unintelligible] unless he did the appraisal the way the bondholders wanted it.

Photo/Natalie Cake

 
Tags: Air Rights, Chernicoff, CREDC, Dauphin County General Authority, Doug Gelder, Forum Place Building, Jay Wegner, Vartan, Walters Appraisal