12/3/2023 0 Comments Conveyancing for land purchase![]() Shortly after, the local city council voted in February to halt the acquisition, putting a stop to the plan for Fufeng to build a corn mill in the area. farmland and other critical infrastructure if he returns to the White House.Įarlier this year, the Air Force signaled it was opposed to a planned sale of farmland around North Dakota’s Grand Forks Air Force Base to the Chinese-owned firm Fufeng, citing a national security risk. And former President Trump has promised that he will ban Chinese investors from buying U.S. In the past few months, lawmakers in more than two dozen states have passed or considered legislation restricting Chinese purchases of U.S. Garamendi alleges the lawsuit filed by the company against landowners is a “classic SLAPP suit specifically designed to force the landowners to lawyer up,” and ultimately rack up legal fees until they are exhausted and agree to sell.Ĭhinese businesses and affiliated entities own more than 300,000 acres of land across the U.S., and acquisitions near land bases have raised growing concerns in Washington and at the state level. ![]() Garamendi also said the FBI and the Treasury Department launched inquiries into the decision about a month ago. The Air Force’s Foreign Investment Risk Review office is reviewing the land purchases from Flannery, according to Garamendi. The land is dry farmland, good for agricultural grazing, but the approaching $1 billion price tag seems astronomically high and would take decades to turn a profit, according to Garamendi, who noted there are also wind turbines on the land. Mike Thompson (D-Calif.), who is also looking into the shadowy company, is why the land is being purchased. The business registry address for the company is located at a packaging shop in a shopping center in Folsom, Calif., according to the business registrar for California.Īlso concerning to Garamendi and Rep. The firm claims that 97 percent of its investors are U.S.-based, but Garamendi said there is no way to verify that claim. The Hill could not immediately contact Flannery Associates for comment. They bought well over 55,000 acres of land in the area and raises a major concern.” We have no idea where the nearly $900 million dollars has come from. ![]() “We have no idea who they are,” Garamendi said. Garamendi, a House Armed Services Committee member, told The Hill that he has been investigating the land acquisitions for nearly two years and has come up with few answers to his questions. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |