The county paid $1.4 million, or $5,397 per acre, a figure that would have quadrupled under commercial zoning, brokers tell GlobeSt.com. At 12 cents per sf, brokers say the county completed a prudent transaction at this time.
The Trust For Public Land, based in Washington, DC, locked up the land deal by buying it quickly, holding the dirt for a short period and then re-selling it to the county when the county obtained purchase funds, the Trust confirms. The two-section property is near GA 113 and McKenzie Bridge Road.
The county funded the acquisition through a state green-space grant and proceeds from a recently approved special sales tax.
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