Monroe County received only one bid for a controversial piece of Stock Island property the county has been trying to unload for the past several years.

The County Commission voted to purchase the Hickory House restaurant and small marina for $3.1 million in 2006. Within two years of the sale -- and after property values tanked -- the county put the property back on the market. Commissioners say they realized there were too many limitations on the property to turn it into the public marina some commissioners had envisioned.

One potential buyer expressed an interest in the property last year, but that deal fell through.

The county has since twice put the property out to bid. Thursday was the final day to submit offers in the most recent round of bids. The lone offer fell significantly short of what commissioners had hoped for. J2 Development, based in Okaloosa County, offered to pay the county $800 a month for 25 years, with the first three months free while the company renovated the aging building and boat docks.

The company's plans for the property are unclear, as the county has not released details of the bid. County policy prohibits releasing bid information until 10 days after the closing date of the bid.

J2 Development's owner James Nabors could not be reached for comment, as the company's phone number was not listed in directory assistance. The company's attorney did not return telephone and e-mail messages left on Thursday.

The offer is less than desirable to County Commissioner Kim Wigington, who represents Stock Island. Wigington said the deal would bring in only $240,000 over 25 years -- far less than the $3.1 million the county spent on the property.

"I have been consistent in my commitment that the taxpayers should get every penny of their money back, plus what we have lost in property taxes," Wigington said. "We will have to wait for the economy to improve, but the taxpayers should not lose any more money on this fiasco."

If the county does not accept the offer, the County Commission will have to go back to the drawing board for ideas.

Wigington also questioned whether it would be feasible to turn the property into a passive park.

"Both a passive park and a playground have demolition costs, design costs and other factors that would take more time than one would expect, and far more money than most would want to see spent on something temporary," Wigington said. "Security and liability are also costly issues. I think we should not throw good money after bad."

In August, the commission rejected an offer by Capt. Vinicio "Vinny" Sangermano to lease the restaurant and surrounding marina property for 30 years for $1 a year. In exchange, he pledged to make improvements such as building affordable housing and commercial fishing docks.

tohara@keysnews.com