One of the key assertions Jeff Notrica made in the Sunday Paper article about the EAV vs. IPP battle was how much he's invested in property improvements. To quote the article:
Notrica, however, points out that he owns about two dozen pieces of property in East Atlanta most of which were in horrible shape when he bought them. He says he has invested millions of dollars in improving those structures and that the challenges he has faced in developing these properties have been much more formidable than those faced by other East Atlanta owners.
"millions of dollars", you say? Well, the city of Atlanta has its building permits dating back to 2000 online, and in those permits it states the value of the work to be performed. From the known IPP properties, I found the following dating back to 2000:
200002247 440 FLAT SHOALS AV SE 4/6/00 $20,000.00
200003495 462 FLAT SHOALS AV SE 5/24/00 $15,000.00
200004930 567 FLAT SHOALS AV SE 7/20/00 $75,000.00
200001624 575 FLAT SHOALS AV SE 3/13/00 $50,000.00
200005343 575 FLAT SHOALS AV SE 8/7/00 $250,000.00
200107615 1314 GLENWOOD AV SE 11/30/01 $265,000.00
200106332 535 FLAT SHOALS AV SE 10/3/01 $25,000.00
200105797 567 FLAT SHOALS AV SE 9/10/01 $50,000.00
200301663 1314 GLENWOOD AV SE 3/12/03 $35,000.00
200600860 1314 GLENWOOD AV SE 2/8/06 $2,000.00
200102629 469 METROPOLITAN PL 4/30/01 $75,000.00
Total value of permitted improvements: $862,000. Of that, $302,000 was for the Iris/Crave space, and $300,000 was on the condo conversion at 575 Flat Shoals. Best case scenario, that's $1,138,000 unaccounted for in building permits since 2000.
So either he spent a lot of money on the John B. Gordon School between 1997 (when he bought it) and 1999, he's spending money under the table, he has other properties that don't show as under his ownership or he's lying. Which do you figure it is?