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The Strata-Sphere on Reid

Friday, October 13, 2006  |  posted by Hugh Hewitt

The Dance of the Forensic Bloggers begins:

So somehow the land that was not available became available – and Reid purchased it. And somehow the land that was zoned residential (and therefore would gain marginal value over time) became rezoned right before Reid ‘sold’ the land to this shell company for what he paid for it! For NO PROFIT. Not even the normal inflation of money. This is right after the zoning came through that would drastically increase its value! One could have said how unfortunate that Reid sold right at the time the value would start shooting up. But he did not sell the land it seems, he simply transferred it in some verbal, mythical business deal. So when the land did sell to a developer, Reid – who clearly sold the land to this company – got a huge (and hidden) windfall.

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