It has been amazing to read the reporting regarding the appraisal of the land belonging to the Hazleton Redevelopment Authority in its dealings with Hazleton Creek Properties.
In this article written by Jerry Lynott of the Times Leader he pens the following: Later that year, an appraisal of the reclaimed land placed the value of the property at $8.2 million. The next year, Hazleton Creek purchased the property for $3.1 million in a lease-to-own agreement with the Hazleton Redevelopment Authority. The authority purchased the property in February 2006 for $200,000 from Pagnotti Enterprises.
He tries to tie the sale to a fundraiser held for Lou Barletta.
The $5,000 contributions of Slomowitz, Rinaldi and Terry Baker, a Johnson and Johnson sales representative from Clarks Summit, were reported a day before an April 30, 2007 fundraiser and paid for a show by The Rat Pack, a trio that impersonates Frank Sinatra, Dean Martin and Sammy Davis Jr.
How about a simple question for Mr. Lynott because his reputation as a fair reporter precedes the article. Mr. Lynott, why don't you ask the bigger question of Pagnotti Enterprises. You are questioning why the Hazleton Redevelopment Authority sold a property they purchased for $200,000 for around $4 million in a total deal worth $5.75 million over 20 years with a purported appraisal of $8 million? Why didn't you ask Pagnotti Enterprises why they SOLD a property appraised at $8 million for $200,000.00? Isn't that a fair question??