Scott County purchased this property from Canterbury for future expansion of the workforce center.  At this time, Scott County is in the process of disposing of the workforce center and no longer needs this parcel.  The city and Scott County and Canterbury have already executed an agreement that accounted for right-of-way trades and acquisitions that included a credit for the proposed ROW on this parcel.

This parcel will aid with the further redevelopment of Canterbury.

Scott County completed a present value appraisal after the ROW that determined the following:

• Before Market Value:  $1,288,000
• Market Value of City’s R/W Bifurcating the Property:     $470,000
• After Market Value Less the City’s R/W:     $818,000

The EDA will purchase this property once the purchase has been approved by Scott County.  The EDA will hold the property for resale.  The EDA will recapture its holding costs from any sale.