Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-01-24
LEASE COMMITTEE
ACCEPTS MASSELL'S
OFFER FOR MANSION
His Bid, Subject 10 Commits
sion'S Approval, Is on
Graduated Scale 7 otaIIing
S1,535,0O0 for 30 Years

The bid Of the Massell Realty
company, Of Atlanta, for fifty-year
lease Of the governors mansion lot
at Peachtree and Cain streets was
accepted Saturday by the committee
Of the leasing commission to which
the matter had been referred. The
committees acceptance Of the bid is
subject to confirmation by, the COM
mission, which will be called to
meet this week.
The Massell bid was a graduated
scale aggregating a rental of $685.
600 for the whole period. During
the first ten-year period the lessee
will pay $4,000 a year, and the
rental will increase $4,000 year
for each ten-year period until the
fifth, when it will be $43,500. The
lessee guarantees to expend 100000
in twelve months and an additional
$250,000 in five years thereafter.
The lessee is to put UP at once
certified check for $4,000 and on
closing the lease will make bond fo1
$4,000 to carry out the terms of
the lease contract. The leasing
commission will reserve the right
to approve or disapprove the les
sees plans for improvements.
Though specific details were not
disclosed to the committee at the
meeting Saturday, it was stated by
Arthur Burdett, representing the
Massell Realty company, that the
plan of the lessee was to put up at
once a building of moderate height
with walls and foundations strong
enough to carry ten stories. This
was corroborated later by Ben J.
Massell, president Of the company.
w. F. Winecoff. owner of the
Austell building and Winecoff hotel.
was the next highest bidder. He
offered an aggregate of $3.50, 900
on a graduated scale beginning at
$4,000 a year and increasing $4,000
year in each ten-year period until
the fifth period, for which he Of
fered $4,000 year. He made no
guarantees as to the character or
cost OF improvements he would
make.
]. R. Smith was the third and
last bidder. He offered an aggre-
SoCN "a p11SOOsOVO Oil d
scale beginning at $4,000 a year,
and guaranteed to expend $780, 900
for improvements within two wears.
The leasing commission was not
authorized by the legislature to make
lease for a period longer than fifty
years. Undoubtedly the commission
could have made a far better lease
for nlnety-nine years. All the bid
ders told the committee that they
would bid more for the mansion lot
if they could get it for ninety-nine
years. There was an effort to work
out tentative bids on a ninety-nine
year basis, but the commission could
not bind the state and the bidders
could not be bound, and the effort
was abandoned.
Value and character of improve
ments, Governor Hardwick said,
would be considered carefully by the
commission before approving any
plans the lessee submitted, since the
state is interested not only in get
ting good price for the lot, but in
having on it at the termination of
the lease building or buildings with
value left in them and suitable for
renting purposes.
Governor HardWick favored the
sale of the property instead of a
lease, and so recommended to the
legislature. There was so much op-
position to a sale that leasing bill
was the only proposition which could
be put through.
The committee which handled the
matter Saturday is composed of Gov
ernor Hardwick, Attorney General
Napier, Representative Carl Guess,
of >DeKalb county, and Thomas j.
CARING, of Macon. a.
Attorney General Napier was di-'
rejected to draw up a lease contract
at once. to submit to the commits
sion with the committees recommen-
dation of the acceptance of the Mas
sell bid.