Local News

Value of Land Linked to Tall Ships Event in Question

Posted January 12, 2007

— Officials disagree over the value of land deeded to the state in connection with last summer's Tall Ships event.

Friends of the North Carolina Maritime Museum, which organized the event over the July 4 weekend, deeded 36 acres along Gallants Channel to the state, as well as more than $5 million in debt the group had incurred for site improvements.

Council of State members were told the property was worth about $36 million, but the Carteret County tax assessor recently valued the property at $3.6 million, a tenth of the supposed value.

There has been no word on the source of the $36 million estimate.

The dispute is the latest controversy associated with the Tall Ships event:

  • Long lines created traffic jams and forced some ticket holders to be turned away from the event.
  • State officials took a taxpayer-funded ferry ride for an up-close view of the festivities.
  • The national Tall Ships sponsor and the Friends of the North Carolina Maritime Museum have squabbled over payments.
  • State taxpayers might wind up bailing out the event, which still has thousands of dollars in unpaid bills.

Please with your WRAL.com account to comment on this story. You also will need a Facebook account to comment.

Oldest First
View all
  • Nothing New Jan 12, 2007

    OK, who is going to investigate this governmental PULL THE WOOL OVER THE TAXPAYERS. What of the article in the N&O that the DOT was negotiating with the group to purchase several acres for millions of dollars which was to off set the debt the group incurred, come on DOT knows the value of land, at lesat when it comes to the common tax payer? And other questions, they now have deeded 36 acres over, which the tax payers of the state had already paid for, how many do they still control? Of the docks and bulkheads they built, how has leasted them, how much is the rent and can the state make money at this? The value of the land based on development, commercial/residentail, if the state does not plan to do this then the land value is far less. Someone needs to investigate this, seems the tax payers of NC paid for a holiday weekend of entertainment to the weathly and politicains.

  • volvoman Jan 12, 2007


  • El Doggo Jan 12, 2007

    I wonder who knows who? Maybe some relationships need to be looked into? Is there a conflict of interest involved with the $36 million estimate??? Is someone rubbing some else's pork belly?

  • willis2 Jan 12, 2007

    Looks like Blackbeard is still alive and well and living in Beaufort. Anybody want to buy the Bonner Bridge?

  • builder276 Jan 12, 2007

    Great the state now ownes property worth 3.6 million, with 5 million in leins on it. Who's great decission was that. I have a house worth about $180,000., I'll sell them for 1.8 million, can we make a deal. At least my property is in Raleigh

  • sparrow Jan 12, 2007

    why am I not surprised? This event from the get go has been smarmy. Is the deal done? Is the state on the hook for the 5 million in debt, against 3.6 million of equity? What a bad deal for the state.
    Maybe the Town of Beaufort knew something the rest of us didn't when they refused to be an official sponsor of this event.