Carolina Journal’s David Bass reports today on former House Speaker Jim Black’s settlement of his corruption related fine involving two parcels of property in Matthews. By law the property goes to the Wake County public school system. Wake County school board members didn’t know about the deal until after it was signed and sealed. Not even board chair Kevin Hill was informed in advance by the superintendent. From Bass’ story:

Superintendent Del Burns said he discussed the fine settlement with “a few members” of the board during an agenda meeting in early June — weeks after the deal was concluded. Hill said the full board was never informed and no minutes were taken.

“We weren’t consulted (by the superintendent) as to whether we wanted to do this as much as we were told, ‘This is what we’re doing,’” Hill said in a telephone interview.

Black paid half of his debt in June of last year, leaving a balance of $500,000. An offer to purchase and an appraisal concluded that the Matthews parcels are worth at least that amount. Recent revaluations, however, put the tax value of the real estate at around $150,000.

So who got the better end of the deal? More from Bass, who spoke with Hill and board member Ron Margiotta:

Both Hill and Margiotta said they were unaware that Black owns real estate valued at around $4 million in Mecklenburg and Iredell counties, including three houses on Lake Norman whose combined tax value in 2007 was $2 million. Black has had trouble selling his property at fair market value to satisfy the fine, according to his attorney.

Asked if he thought the school system got a fair deal, Hill said, “If what I have been told is true, that (the property) has been appraised at more than half a million, that we should be able to recoup from the land what was due us, then yes.”

You’ll find links to the relevant documents in Bass’s story here.