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As a retired commercial real estate appraiser, I have to say that paying more than $800,000 per acre for 30 acres of “land” that has no infrastructure and is inaccessible by anything that draws more than a kayak (and perhaps not then) seems a little steep. I understand that the property makes a potentially significant environmental contribution, and environmental value is not measured in a typical real estate appraisal. But please let us not make the mistake of thinking of Rattlesnake Key as a development site. Even assuming that Manatee County would allow a developer to cut roads and utilities through a thousand acres of protected mangrove wetlands, it would never be economically feasible. A hotel and casino in the middle of a swamp? Not going to happen. The county should not bow to the owner's scare tactics to pay an exorbitant price for a property that will never be developed and will continue to provide the same environmental benefits no matter who owns it.

From: Rattlesnake Key owners put property on the market as state/county purchase deal drags

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