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City Paying Premium for Police Station Site

LEESBURG, FL-The city manager of this Lake County city of 15,986 permanent residents is contracting to buy an estimated one-acre Downtown parcel for more than the property's $170,000 appraised value, but won't disclose the purchase price. Leesburg is 45 miles northwest of Downtown Orlando.

By Alex Finkelstein | Updated on September 07, 2001

LEESBURG, FL-Although the purchase price will be publicly disclosed at a Sept. 10 city council meeting, city manager Ron Stock declines to reveal the amount the city is paying for a 41,000-sf building sitting on an estimated one-acre Downtown parcel.

The city has appraised the property at $170,000 or about $3.90 per sf but Stock and his staff are on record as saying the purchase price will be higher. They are providing no explanation for the higher price at this time.

Stock and his staff couldn’t be reached at GlobeSt.com’s publication deadline to learn the contracted price.

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