$71,000 is Town profit on Hedlin property

Good news. The profit will be about $71,142 to the Town of La Conner in its sale of the Hedlin Maple Avenue ballfield property. Incomplete reporting resulted in an inaccurate story in the March 31 Weekly News, when the headline cited $20,000. Add to that the $37,000 2020 purchase option, which held the property. That was part of the purchase price,.

Another $13,340 is gained because the Town, as a government, does not pay real estate excise tax when it sells property. That is a swing of over $50,000 for La Conner. The Town’s total cost to buy and sell the Hedlins property is approximately $728,858, not $779,198. Landed Gentry, the developer, is buying it for $800,000. La Conner grosses some $71,140.

The story also erroneously attributed the $40,000 in broker commissions to realtor Dick Nord. That total goes to Windermere Real Estate/Skagit Valley, where Nord the Town’s selling agent, and Jim Glackin, representing the buyer, both work. Nord and Glackin’s commissions are shared with Windemere.

Nord pointed out in a Sunday call with the Weekly News that La Conner did save $37,000 by selling the property before an April deadline when that amount would have been spent to maintain the Town’s option.

La Conner bought almost two acres but sold 70% of that, 54,000 square feet. Residents gain a 24,000 square foot park on Maple Avenue at Talbott Street along with the $71,140 placed in the Town’s general fund.

The Weekly News regrets its incomplete reporting and errors.