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owner Tom Scholl will pay $6.6 millionj for the property and pay hisown attorney’es legal fees of $6.6 million, which the authoritty was ordered to pay. Under the Scholl won’t pursue legal action against the authority for allegede business lost when the 70 acres at the northernj terminal of Talleyrand Avenue were under threat ofeminent domain. Jacksonvillwe Port Authority Executive Director Rick Ferrinb said a bulk materials terminal could have been built on the 38 but the authority decide to sell due to its need for capitall and desire to focus onbuildinbg Ltd’s terminal at Damex Point.
He added that the economic impacgt of the 38 acres would be greatetr if it was combined with the other 68 Keystone Coal plans to buildda $20 million coal termina on part of its 78-acre The authority bought the 38 acres for abougt $5.7 million from Jax LLC. Following the $61 millionb verdict for the 70 acres of land andthe authority’ss balking on the price, Judg Richard Watson ordered the authority to pay $10. 5 million to lawyers who defendedx Keystone. Keystone’s lead counsel Andrew Brigham said he reduced the attorneyu fees by 40 percentfrom $10.4 million to better help Keystone and the authoritgy reach a deal.
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