<SEC-DOCUMENT>0001387131-14-004129.txt : 20150223
<SEC-HEADER>0001387131-14-004129.hdr.sgml : 20150223
<ACCEPTANCE-DATETIME>20141223151225
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001387131-14-004129
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20141223

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FRP HOLDINGS, INC.
		CENTRAL INDEX KEY:			0000844059
		STANDARD INDUSTRIAL CLASSIFICATION:	TRUCKING & COURIER SERVICES (NO AIR) [4210]
		IRS NUMBER:				472449198
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		200 W. FORSYTH ST.
		STREET 2:		7TH FLOOR
		CITY:			JACKSONVILLE
		STATE:			FL
		ZIP:			32202
		BUSINESS PHONE:		9043965733

	MAIL ADDRESS:	
		STREET 1:		200 W. FORSYTH ST.
		STREET 2:		7TH FLOOR
		CITY:			JACKSONVILLE
		STATE:			FL
		ZIP:			32202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PATRIOT TRANSPORTATION HOLDING INC
		DATE OF NAME CHANGE:	20010425

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FRP PROPERTIES INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
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<!-- Field: Rule-Page --><DIV ALIGN="LEFT"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0"><B>Nelson</B></P>

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0"><B>Mullins</B></P>

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    <TD STYLE="width: 4%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 61%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 3pt 0 2pt"><B>Nelson Mullins Riley &amp; Scarborough LLP</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 2pt">Attorneys and Counselors at Law</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 2pt">50 N. Laura Street, Suite 2850 / Jacksonville, FL 32202</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 2pt">Tel: 904.665.3600 Fax: 904.665.3621</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">www.nelsonmullins.com</P></TD>
    <TD STYLE="width: 35%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 2pt">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 2pt">Daniel B. Nunn, Jr.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 2pt">Tel: 904.665.3601</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 2pt">Fax: 904.665.3621</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 2pt">daniel.nunn@nelsonmullins.com</P></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.25in 0 0; text-align: center">December 23, 2014</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">U.S. Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Division of Corporation Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">100 F. Street, N.E.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Attn: Loan Lauren P. Nguyen, Special Counsel</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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    <TD STYLE="width: 4%; text-align: right">Re:</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 94%">FRP Holdings, Inc.
(the &ldquo;Company&rdquo;)</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Preliminary Proxy
Statement on Schedule 14A</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Filed December
12, 2014</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>File No. 001-36769</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Dear Ms. Nguyen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We refer to the
letter dated December 19, 2014 (the &ldquo;Comment Letter&rdquo;), from the U.S.&nbsp;Securities and Exchange Commission (&ldquo;SEC&rdquo;)
setting forth the comments of the staff of the SEC (the &ldquo;Staff&rdquo;) on the above-referenced Preliminary Proxy Statement
on Schedule 14A, File No. 001-36769, filed on December 12, 2014 (the&nbsp;&ldquo;Proxy Statement&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Concurrently with
this response letter, the Company is electronically transmitting an amended preliminary Proxy Statement for filing under the Securities
Exchange Act of 1934 (the &ldquo;Exchange Act&rdquo;). The amended Proxy Statement includes revisions made in response to the comments
of the Staff in the Comment Letter. For your convenience, we&nbsp;have enclosed four clean copies and four copies that have been
marked to show changes made to the originally filed Proxy Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The numbered paragraphs
and headings below correspond to the paragraphs and headings set forth in the Comment Letter. The page numbers in the response
refer to pages in the marked copy of the Proxy Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 2pt; text-align: center"><I>With offices in the District of Columbia,
Florida, Georgia, Massachusetts, North Carolina, South Carolina, Tennessee and West Virginia</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Loan Lauren P. Nguyen</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Special Counsel</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">U.S. Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">December 23, 2014</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Page 2</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-left: 0; text-align: justify"><B><U>Proposal No. 3 &ndash; Adoption
of the Amended and Restated Articles of Incorporation, page 12</U></B></P>

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<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 4%; text-align: center; font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>1.</B></FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 94%; text-align: justify">Rule 14a-4(a)(3) under the Securities Exchange Act of 1934 requires you to identify clearly and impartially each separate
matter upon which you intend to act, whether or not related to or conditioned on the approval of other matters. In this regard,
we note that it appears that you have combined multiple matters in Proposal No. 3. Please revise to unbundle Proposal No. 3 so
that the changes to the company&rsquo;s existing Articles related to the declassification of the board of directors and the elimination
of the supermajority vote requirement for the approval of certain transactions with affiliates of the company are two separate
proposals. If any of the proposals are mutually conditioned, please revise the proxy statement accordingly and provide appropriate
disclosure regarding the effect of a negative vote on the related proposals. In addition, include a revised form of proxy that
allows shareholders to vote separately on each proposal. For guidance, refer to Question 101.02 of the Compliance and Disclosure
Interpretations (Regarding Unbundling under Rule 14a-4(a)(3) Generally).</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-left: 45.35pt; text-align: justify; text-indent: -27.35pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 45.35pt; text-align: justify; text-indent: -27.35pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><I>Company Response:</I> The Company
has amended its Proxy Statement to unbundle Proposal No.&nbsp;3 so that the changes to the Company&rsquo;s existing articles of
incorporation are separated into three separate proposals: Proposal No. 3 (declassification of directors); Proposal No.&nbsp;4
(elimination of the supermajority vote requirement for the approval of certain transactions with affiliates of the Company); and
Proposal No. 5 (deletion or modification of miscellaneous provisions of the existing articles). The Company has also revised the
form of proxy accordingly. Please note that, as disclosed on page 12, none of these proposals is conditioned on the approval of
any other proposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Please contact
me at (904) 665-3601 with any questions you may have regarding the Proxy Statement or this letter. Electronic mail
transmissions may be sent to me at daniel.nunn@nelsonmullins.com and facsimile transmissions may be sent to my attention at
(904) 665-3621.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"></P>

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<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 55%">Very truly yours,</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>/s/ Daniel B. Nunn, Jr. </TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>Daniel B. Nunn, Jr. </TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>cc:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Donald E. Field </TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Annex A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">On behalf of FRP
Holdings, Inc. (the &ldquo;Company&rdquo;), and in connection with the filing of Amendment No. 1 to the Preliminary Proxy Statement
on Schedule 14A, File No. 001-36769, the&nbsp;undersigned hereby acknowledges that:</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: normal 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 3%; text-align: right; font: normal 10pt Times New Roman, Times, Serif">&#9679;<FONT STYLE="font: normal 10pt Times New Roman, Times, Serif"></FONT></TD>
    <TD STYLE="width: 3%; font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 94%; font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">the Company is responsible for the adequacy and accuracy of the disclosure in the filing;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left; font: normal 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left; font: normal 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: right">&#9679;<FONT STYLE="font: normal 10pt Times New Roman, Times, Serif"></FONT></TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">Staff comments or changes to disclosure in response to Staff comments do not foreclose the Commission from taking any action
with respect to the filing; and</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left; font: normal 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left; font: normal 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</FONT>&#9679;</TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">the Company may not assert Staff comments as a defense in any proceeding initiated by the Commission or any person under
the federal securities laws of the United States.</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left; font: normal 10pt Times New Roman, Times, Serif">
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font: normal 10pt Times New Roman, Times, Serif"><FONT STYLE="font: normal 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; text-align: justify"><FONT STYLE="font-family: Symbol">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3in; text-align: justify"></P>

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<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">FRP Holdings, Inc. </TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 45%">&nbsp;</TD>
    <TD STYLE="width: 3%">By:</TD>
    <TD STYLE="width: 21%; border-bottom: Black 1pt solid">/s/ Thompson S. Baker II</TD>
    <TD STYLE="width: 31%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">Thompson S. Baker II</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">President and Chief Executive Officer </TD></TR>
</TABLE>

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