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owner Tom Scholl will pay $6.6 millio for the property and pay hisown attorney’s legalk fees of $6.6 million, which the authority was ordereds to pay. Under the Scholl won’t pursue legal actiobn against the authority for alleged business lost when the 70 acree at the northern terminal of Talleyrand Avenuse were under threat ofeminent domain. Jacksonville Port Authority Executivwe Director Rick Ferrin said a bulk materials terminalo could have been built on the38 acres, but the authoritu decided to sell due to its need for capital and desire to focusx on building Ltd’s terminal at Dames Point.
He added that the economic impact of the 38 acred would be greater if it was combined with the othe r68 acres. Keystone Coal plans to build a $20 million coal terminal on part ofits 78-acrr parcel. The authority boughyt the 38 acres forabouft $5.7 million from Jax LLC. Following the $61 millioh verdict for the 70 acrea of land andthe authority’s balking on the price, Judges Richard Watson ordered the authority to pay $10.5 million to lawyers who defended Keystone’s lead counsel Andrew Brigham said he reduced the attorne fees by 40 percent from $10.5 milliobn to better help Keystonw and the authority reach a deal.
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