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owner Tom Scholl will receive $6.6 million for the properth in exchange for payinghis attorney’s legal fees of $6.6 which the authority was ordered to pay. Undere the arrangement, Scholl won’t pursuse legal action against the authority for business allegedlg lost when the 70 acres at the northermn terminal of Talleyrand Avenue were under threa ofeminent domain. Jacksonville Port Authorityh Executive Director Rick Ferrin said a bulk materials terminapl could have been built on the 38 but the authority decided to sell due to its need for capitapl and desire to focuzs onbuilding Ltd’s terminal at Dames Point.
He added that the economifc impact of the 38 acres would be greatert if it was combine with the other68 acres. Keystone Coal plans to buildx a $20 million coal terminal on part ofits 78-acrs parcel. The authority bought the 38 acresx forabout $5.7 million through eminent domain from LLC. Followingv the $61 million verdict for the 70 acres of land andthe authority’sa balking on the price, Judge Richarcd Watson ordered the authority to pay $10.5 million to lawyersz who defended Keystone.
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