Port to sell land to Keystone Coal - The Business Review (Albany):

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owner Tom Scholl will pay $6.6 million for the property and pay hisown attorney’e legal fees of $6.6 million, which the authorityg was ordered to pay. Under the arrangement, Scholl won’tt pursue legal action against the authority for alleged business lost when the 70 acreas at the northern terminal of Talleyrand Avenue were under threat ofeminent domain. Jacksonville Port Authority Executivd Director Rick Ferrin said a bulk materiales terminal could have been built on the 38 but the authority decided to sell due to its need for capitakl and desire to focusz onbuilding Ltd’s terminal at Dames He added that the economic impacgt of the 38 acres would be greater if it was combined with the other 68 acres.
Keystone Coal plands to build a $20 million coal terminal on part ofits 78-acrse parcel. The authority bought the 38 acres forabout $5.7 millionj from Jax LLC. Following the $61 million verdictg for the 70 acrex of land andthe authority’s balking on the Judge Richard Watson ordered the authority to pay $10.5 million to lawyers who defended Keystone’s lead counsel Andreaw Brigham said he reduced the attorney fees by 40 percent from $10.
5 million to bettere help Keystone and the authority reach a