Skip to comments.Is this the same BOB PENNY
Posted on 09/30/2007 9:24:19 PM PDT by BlueMoose
Kenai River Property Purchase
In December 2006, Sen. Murkowski and her husband paid $179,400 for a 1.2 acre vacant lot on the banks of the Kenai River in Alaska from long-time friend and campaign contributor Bob Penney. Three days after the purchase, the Kenai Peninsula Borough Assessing Department valued the land at $214,900, 20% over what Sen. Murkowski paid for the land. According to numerous real estate sources in the area, the Kenai lots actually sell for significantly higher than the Borough assessed price because they are located on a world-famous fishing river. Mr. Penney, the seller of the property, has been questioned in connection with a criminal investigation into real estate transactions involving Alaska Senator Ted Stevens. Mr. Penney, though a real-estate developer who has testified regarding the economic impact of fishing upon the Kenai River property values, claims that he was unaware that the Borough assessed value of Sen. Murkowskis land had increased since 2005, when it was valued at $120,000.
By purchasing the land at a price below the propertys real value, Sen. Murkowski accepted an improper gift from Mr. Penny in violation of the Senate gift rule.
(Excerpt) Read more at community.adn.com ...
The reply from Stevens' office to the state: "The $2 million for the Kenai River; and $1 million for the Russian River go to Bob Penny." Then it gave the phone number for Penco, an Anchorage company founded by developer Bob Penney.
The RNC needs to clean house in respect to their Alaskan delegates. This is shameful. Reminds me of democrats in Louisiana.
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