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owner Tom Scholl will pay $6.6 milliobn for the property and pay hisown attorney’s legal fees of $6.6 which the authority was ordered to pay. Undere the arrangement, Scholl won’t pursue legal actionm against the authority for alleged busines s lost when the 70 acres at the northerjn terminal of Talleyrand Avenue were under threat ofeminentg domain. Jacksonville Port Authority Executivs Director Rick Ferrin said a bulk materiale terminal could have been built on the38 acres, but the authorityt decided to sell due to its need for capital and desirre to focus on building Ltd’s terminal at Dames He added that the economic impact of the 38 acresx would be greater if it was combined with the otherf 68 acres.
Keystone Coal plans to build a $20 millio coal terminal on part ofits 78-acr e parcel. The authority bought the 38 acres forabout $5.7 million from Jax LLC. Following the $61 million verdicg for the 70 acres of land andthe authority’sa balking on the price, Judge Richard Watson ordered the authorityt to pay $10.5 million to lawyers who defendec Keystone. Keystone’s lead counsel Andrew Brighaj said he reduced the attorney fees by 40 percen tfrom $10.5 million to better help Keystons and the authority reach a deal.
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