View the full letter from the town s attorney below:
Trump purchased Mar-a-Lago for $10 million in 1985 from the estate of Marjorie Merriweather Post, the owner of General Foods. The 126-room mansion had deteriorated after her death in 1973, when she left it to the U.S. government as a possible presidential vacation home. The government gave it back in 1981.
After Trump bought it, he spent millions upgrading the property while living there part-time.
By the early 1990s, however, Trump was in financial distress. Real estate prices dropped and several of his businesses flopped, including a New Jersey casino. He told the town he could no longer afford the $3 million annual upkeep and it was unfair that he shouldered the costs alone. He proposed subdividing the property and building mansions. The town rejected the proposal.
Palm Beach weighs Trump legal dispute over residency - South Florida Sun-Sentinel sun-sentinel.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sun-sentinel.com Daily Mail and Mail on Sunday newspapers.
Read more about US: Palm Beach considers options as Donald Trump remains at Mar-a-Lago on Business Standard. Town Manager Kirk Blouin said in an email Thursday that Palm Beach is examining its options and the matter might be discussed at the town council s February meeting