Fiscal 2023 DIF Account

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Got To Ask: Do We Really Own The Land??

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If you applied for a mortgage on a property (WG North), but told the bank that:

  1.  There was an "escrow deed" that the former owner holds to get your property (WG North) back.    
  2.  The former owner can unilaterally record this "escrow deed" to get WG North back,  if they does not get another property that you own (LFB site).

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Question:  Do you think the bank would give you a mortgage on WG North?    

Answer:     No way!!  You do not have "clear title".  At the same time, you can get bonds of almost $100,000,000 to invest taxpayer monies?      

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It appears to us, we only own this land (WG North) in name only.

Until the LFB (Left Field Building) site is conveyed to Madison, then and only then will we truly own the land (WG North).       

Not a bad bargaining position Madison has put themselves in????   

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