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Trailer Park Millionaires January 11, 2007

Posted by tkcollier in Business, Life, Video.
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Most residents make sale toast of the town
The vote:Residentschose to accept a $510 million offer from Boca Raton-based Ocean Land Investments for the 488-unit mobile home park.

The plans: Ocean Land envisions condos, townhomes, a hotel, retail and commercial space, restaurants and parks.

The process: Ocean Land must get state and local approval, including input from neighboring towns, which have said they will consider legal challenges.

The payoff: Residents split $500 million, at $31,700 a share. While the average is about $1 million a unit, some will be paid more and some less.

Residents vote to sell oceanfront town for $510M.
Video NEWS 12 video report
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What happens now
Sale toast of the town
Residents sound off
Mementos gain meaning

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