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While AVHD must preserve all legal options, its offer to purchase the property for its appraised fair market value was bona fide and clearly represents the district's preferred option,'' Wong said in the letter. Despite the conclusions of the appraised fair market value, we made a best offer to pay $100 million to the MTA for the development rights for the NYSCC, three times the fair market value based on the highest and best use. The selling price may not exceed the facility's appraised fair market value, to ensure that the bonds are not being issued to benefit a private party. |
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