Frying Pan Tower on the Auction Block

(noboxes) #21

And i might be offshore as a stepping stone too. Lotta caveats. There’s value in a support base, but i don’t want to live on land in one.


I live in Florida,…lol. Of course I complain about cold,… :sunny:

Before they come to the Gulf, usually they pass through here (the damn hurricanes). Been in 6.


Yeap, right,… Like I need more “testing” @ 54 after 15 sailing around,… LOL.


I can’t begin to remember the number I’ve been through. Very few up-close and personal, but more than enough to know the risks w/o having to think about them.


The bidding has stalled at 42,400 for the past two days.

(noboxes) #26

@MermanDan , have you approached TSI directly about this? I mean, off the forum, because apparently those who make decisions don’t listen to us here.


Some interesting tidbits from Richard were posted on FB a few days ago:

“Good morning… There have been a lot of questions about the tower auction such as, Do I get the land underneath? Will I have to move it! and, What laws do you have to obey? To help clarify I’ll address some of these each day. Go get a refill of your coffee. This is a bit long-winded :slight_smile:
These questions are exactly the same type of ones that I had when I originally was in discussions with the attorneys for the Government Services Administration, GSA, back in 2010. After about a month of back and forth emails I was instructed that the US government had one primary requirement and that was we observe the 200 mile international economic zone restrictions. This rule prevents us from 1. dumping hazardous waste, 2. altering the navigational waterways, and 3. impacting the marine fisheries.
The ground underneath us is a protected reef area but ironically, not US land and to get the obvious out of the way, there are things you could do outside the US that we have chosen specifically not to do. Let your imagination run wild but know that our goal has always been to restore and return the facility to operating safely and a place where guests and volunteers could come out and enjoy the beauty that God has given us with our amazing oceans and creatures within.
We do not pollute with hazardous waste and are legally allowed to flush our effluent such as toilets, shower, sinks and laundry directly into the waters below. The volumes are very low even with a full complement of guests and crew. Impacting the navigational waterways would possibly be by altering the structure with an increase in tower size of more than 100 feet than it currently is. If we desired to do so there is a permit from the US corp of engineers. As for impacting the marine fisheries we have been instructed that this simply means we may not create a fish farm or containment area. In reality none of these limitations have any practical impact on our efforts to operate and restore the facility.
The next most obvious question might be as to what if by some chance the tower was to eventually fail. The only obligation as we understand it would be to notify the Coast Guard as this was the original end-of-life plan that the Coast Guard was pursuing. We do not believe that this is remotely likely as we have ridden out several hurricanes and the structure has been reviewed by engineers over the years. Now, there is very limited fuel on board the facility being as it primarily operates off of solar and wind now which mitigates the original concern of nearly 15,000 gallons of diesel fuel. Those two 7500 gallon fuel tanks were emptied prior to the shutdown of the tower in the early 90s. Of the 3 large rainwater holding tanks, only 1 is used which combined with the empty fuel tanks and removal of some external structure has reduced the weight by literally over 350,000 pounds. This has made the remaining structure in effect, a massively overbuilt structurally.
And the sea floor beneath, being as we are literally outside the US land territory by several miles, does not belong to the US nor us. Aside from some more foolish claims by other tower owners overseas who desire to be an independent nation, my great respect for my country and the US Coast Guard’s ability to build, place and operate this facility has made me proud to maintain the Coast Guard tradition of being an American outpost although again, not technically in the US nor under its authority as would be on land or closer to shore. Clearly also the state of North Carolina has no regulations other than being the recipient of our fishing licenses since those do cover out to the 200 mile international economic zone. Fishing licenses required are the same as for any individual but no special licensing is required for the facility. We have the honor of cooperating with the Coast Guard during search and rescue operations in our limited way and have provided safe harbor for some during abrupt changes in weather where they have anchored and stayed safe and warm with us at no charge of course.”

The bid stood at 42,400.00 for several days but has been at 45,454.54 over the weekend.


Richard has decided to try a different route, fractional ownership of FPT.

“AUCTION UPDATE: It’s been an interesting past few days with several bidders who have placed deposits to bid. One thing is standing out; restoration in the ocean is difficult to explain if you’ve not been there & done that. Also, the b&b business which I started to help augment the restoration efforts, is erroneously perceived as a real money-maker with folks understandably asking for revenue numbers.
In reality, I ran the b&b to help cover the funds needed to continue purchasing supplies, do repairs, and so I could share my love for the tower with those who wanted to come see it for themselves! If you’ve been there with me, you’ll know what I mean.
By the end of this week those registered to bid will have their deposits returned. They by committing with their $5,000 deposits, showed that they are sincere about participating so they will get 1st choice at purchasing the tower through very limited fractional ownership shares…
More details to come over the next few days as the legal details are drafted but in short, I’ll be placing ownership in the hands of just over a couple dozen individuals and for less than the average cost of a car…in the year 2000!
Just a post note, speculation is fine, but flaming or trolling posts will be deleted. Those who know me know that this decision to shift away from a plain auction is about the tower’s future. It’s also not about revenue with several private “buy-now” bids in the 6 figures. I’ve a responsibility to sell the tower to those who will ensure a solid future for it.”

(.) #29

I sincerely hope that your plan works fine for you.
I wish you good luck, and I am interested about your progress.
Thank you for your posts. I wish you success!

(noboxes) #30

It’s been a month with no updates on their website. Is anything happening?