Monaghan's Person Appreciates $1M
In May 2007, AveWatch was the first to report how Tom Monaghan personally acquired 74.55 acres of prime Ave Maria Town real estate in November 2004 valued at $840,000. Given its proximity to what has become the largest construction site in America, Monaghan's privately owned land appreciated (unimproved) to $1,442,500 in 2006. That same year, Monaghan deeded 10 acres of that parcel to an AMU employee for $210,000. The 2007 Assessed Value of Monaghan's 64.55 acres is now at $1,862,550 (Folio No. 00138521008; Collier County Property Appraiser; see shaded area in image below).
His personally owned land
in Ave Maria Town has appreciated over $1 million
since he acquired it.
This personal asset appreciated in direct response to
Tom Monaghan's own for-profit business activity
(acting as Ave
Maria Development LLC) and in direct response
to his non-profit business activity (acting as
Chancellor of Ave Maria University and as the
Board Chairman of Michigan's Ave Maria School of
Law - the Chairman who threatened to financially
devastate his own institution if it refused to
move 1,300 miles to his for-profit Florida real
estate development... a move that directly
benefits his personal land asset).
The following are also owned by the Thomas S.
Monaghan Living Trust in Collier County:
+ La Piazza, Condo Unit 1302 - $596,500 (bought 2007,
see shaded below)
+ 10047 Gulf Shore Dr. - 2007 Market Value =
$3,579,778, (bought 1995)
+ 318 N. Storter Ave - 2007 Market Value = $457,432
(bought 2005)
As already stated on AveWatch, it matters not if Tom Monaghan gives his personal land holding, or the subsequent land appreciation, to fund a leper colony. The point is that Mr. Monaghan receives a direct and personal benefit from the management decisions that he makes with his tax-exempt charity and with his for-profit businesses. The conflict-of-interest is stunning.