November 21 Wilmington
City Council Meeting
Council approved the
expenditure of $79,000 of 'Sugartree St. Corridor” grant money to
acquire three Dupree properties on the east side of S. Mulberry
bordering the old railroad tracks. The plan is to connect the
existing trail to the newly created Xidas park on the former site of
the Manhattan Lounge on South St.
I'm
not convinced that the purchase price was a sound use of the funds.
The auditor's appraised value for the three properties, totaling
three quarters of an acre, is only $57,600 and that may be high
considering the location and condition of the real estate. It's very
difficult to accept that any lots in the city are worth $105,000 per
acre.
In
contrast the city does not think a similar property at 142 N.
Mulberry is worth $12,000.
PaulHunter
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