Thursday, May 15, 2014

Alabama's Biggest Beach Party This Weekend


     The Hangout Music and Arts Festival kicks off today at 4:00pm. Over 70 acts will perform on six stages over the course of the weekend culminating with a Sunday night finale featuring the 20th Anniversary of Outkast. Being one of the most prominent recording artists from the south and with 40,000 people attending the festival, Outkast is sure to throw the biggest party this beach has ever seen.
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Single Tax Leaseholder Newsletter

If you are a leaseholder of Fairhope Single Tax Colony Land, sign up for our newsletter to stay up to date on the happenings of the Colony. Send us an email here or enter your email address in the box on the right.

Fairhope Single Tax Colony Meeting for May

     The monthly meeting for lessees and members of the Fairhope Single Tax Colony was held in the Library at 6:30pm. After approximately five minutes, it was announced all non-members were to leave as the meeting had become private. Two lessees and about a dozen others left the meeting.
     The issue currently at hand is the process of distributing funds from eminent domain proceedings due to the expansion of Highway 181. Leaseholders affected by the condemnation have been sent a settlement letter issued by the Colony. The letter stipulates 30% of the State funds go to the leaseholder while 70% go to the Colony. Many, including some members of the Colony, don't agree. 
     The dissenting members argue the issue has been settled through the Alabama Court System. 

Friday, May 9, 2014

Eminent Domain and the Fairhope Single Tax Colony

For the original article with more explanation, an example and definition of terms used, click here.

     This is a ruling concerning eminent domain and the distribution of funds to owners and lessees of property condemned by the State of Alabama.
     In 1992, Alabama condemned property for a public easement. The Fairhope Single Tax Colony and the lessee, SouthTrust Bank, had agreed the appraised value of the condemned property was $28,260, plus accrued interest, for the condemned property. The value of the leasehold interest over the duration of the lease was determined by a testifying witness to be $29,809. Since in Alabama the lessee's losses are covered first, FSTC likely wouldn't have gotten much if any had they proceeded with the new trial. Instead, after the Court of Civil Appeals sent it back to the trial court, FSTC and SouthTrust Bank settled out of court and had the settlement sealed. 
Presumably, the formula for distribution of State funds of eminent domain properties concerning owners and lessees is as follows: Take the purchase price plus economic rent less the contract rent subtracted from State funds with the remainder going to the FSTC.
For Example: The State has agreed to pay $10,000 for a piece of land to expand the highway. The tax value on the land is $10,000, therefore the contract rent is $20 per year. The economic rent is $100 per year.
Price of Land + Economic Rent = Total Value  
10000 + 9900 = 19900
Economic Rent x Remainder of Lease = Total Economic Rent  
100 x 99 = 9900

Contract Rent x Remainder of Lease = Total Contract Rent
20 x 99 =  1980

Economic Rent - Contract Rent = Leaseholder Value  
9900 - 1980 = 7920

Leaseholder Value + Purchase Price = Total Leaseholder Value
10000 + 7920 = 17920
State Funds - Total Leaseholder Value = Remainder
10000 - 17920 = -7920

Remainder + Contract Rent = Colony Share
-7920 + 1980 = -5940
     In this simplified example (every case will be fact specific), the Leaseholder Value and Colony Share exceeded what the State had agreed to pay. In this instance, Alabama law states a lessee must be reimbursed first. This means the leaseholder would get $10,000 and the Colony would receive $0. The leaseholder loses $7,920 in property value and the Colony loses $1,980 due to the state only paying $10,000 for a piece of property worth $19,900.    

Summaries of each section are in bold italics.

Wednesday, May 7, 2014

Farmer's Market in Fairhope on Thursday

     

   
     The market will be held on Thursday evenings from 3 p.m. to 6 p.m. behind the Fairhope Public Library on Bancroft Street in downtown Fairhope.


     The Fairhope Public Library youth services department will hold story times and children's activities each week at 4 p.m. 

     The Haven will also be holding pet adoptions. 

     For more information, please call 251-929-1466.

Thursday, May 1, 2014

Theatre on the Bluff May 2 & 3 at 7:30pm


 Eastern Shore Repertory
proudly presents
Directed by David Redman Scott and Erin Langley
Choreographed by Matthew Kiel




Join us for Fairhope's first THEATRE ON THE BLUFF experience. Bring a lawn chair, blanket, and a friend for this fun-filled community event! Concessions will be available.

BRING YOUR OWN LAWN CHAIR OR BLANKET! Feel free to bring a picnic as well!