Value of Land Linked to Tall Ships Event in Question
Posted January 12, 2007 2:58 p.m. EST
Updated January 12, 2007 10:37 p.m. EST
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.