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January 09, 2005
Sweetheart Deal
The saga of the former home of the Clintons continues. As you may remember, at last report the University of Arkansas had made an offer to buy the home for about $100K over its appraised value. And I kept thinking while following the story the owners' name sounded familiar. It should've.
James and Janet Greeson bought the home at 930 California Boulevard in 1983.
James Greeson is a professor of composition and music theory at UA.
That's pretty sweet, isn't it? But wait. There's more.
UA’s "first priority" for the house would be to hold the property until the [city] commission can acquire the home, Pederson said. "If trustees approve the purchase, we’ll be fairly patient with the city," Pederson said. "They want to use it as a museum, and that’s why we would sell it to them. We didn’t want it to be sold to another private individual."
So the university is buying a house from one of its professors at substantially more than the appraised value in order to sell it to the city.
Fayetteville. One of the biggest small towns you'll ever live in.
Posted by Rita at January 9, 2005 08:07 AM