Holy Shrieking Schizballs

I happened upon some interesting information over the weekend.  I was looking up meeting minutes on the Wylie Economic Development Corporation (WEDC) and Sam Satterwhite’s boffo annual bonus of 12.5%, and I stumbled upon a set of meeting minutes dated 4.27.12 that caught my attention. 

In these WEDC minutes, Executive Director, Sam Satterwhite had discussed a property labeled as “WISD 1.5 Acre Tract” owned by Wylie ISD.  It stated that a Mr. Parker had been the sole bid to purchase this piece of land. 

Piquing my interest, I then found the WEDC meeting minutes dated 2.17.12 stating it was attached to 33 acres owned by Parker/Scholz on FM 544.

Then I found the WEDC meeting minutes dated 9.15.11 where the land was discussed in Item #5 whereby WEDC board member Mitch Herzog excused himself because he is also a WISD Trustee and incredibly, because of his “relationship with Richard Parker Real Estate.”  Hmmmmm this just keeps getting better.   The minutes went on to state that the land was of no use to Wylie ISD should Mr. Parker begin developing his land.  The WEDC voted in favor of spending up to $2800 for the survey and appraisal.

The WISD minutes from 4.16.12 authorize sale of real property.  In an information request I made to Marcia Coker at Wylie ISD, I discovered that the sale price was $28,100. 

Upon further inspection, I found out the property in question is located on FM 544 and is actually 3.99 acres according to the Collin County CAD tax assessment. Holy fuzzy schizballs, you mean to tell me 3.99 acres equals plus or minus 1.5 acres according to the world of  WEDC?

Do you mean to tell me that 3.99 acres sold for a paltry $28,100?  WTF?  Holy crap, I’m in the wrong business.

Talk about your sweet deal.  I decided to check a little further into this dude that purchased the land in question.  I’m guessing he is one of the good ole’ boys in Wylie, who has been buying up land all over the place.  His name is Robert Richard Parker and he is listed as an officer in Parker/Scholz Properties, Ltd. In fact, this guy has land all over FM 544 , including a nifty little property owned by another one of his companies called Parkarosa.  Well at least he has a sense of humor. 

I wonder how he stumbled upon this sweet land deal and why WEDC Executive Director Sam Satterwhite was acting on his behalf?  Why the hell would almost 4 acres of land, which was misrepresented to WISD by the WEDC as +- 1.5 acres on FM 544, sell for so cheap? My opinion is that this whole deal screams dirty schizballs and I am saddened that it would appear WISD was hosed in the deal.