Atlanta Scrambles to Get Out of Expensive Deal It Forgot It Made
17th October 2017
Which is worse: committing to sell off public land at millions below its market value, or not remembering you’d made that commitment in the first place?
That’s the question the Atlanta Housing Authority (AHA) is no doubt asking itself as it tries desperately to get out of a deal it made to sell $138 million of land to a property development company for the recession-era price of $17 million.
The company, Integral, claims it was promised the $120 million discount by former AHA chief Renee Glover in a 2011 agreement. AHA’s current president, Catherine Buell, says she knew nothing about the 2011 deal until Integral tried to make good on it in late 2016, and that the terms are wholly inappropriate.