How does the purchase price relate to the appraised value?
The property has been appraised by a qualified local appraisal firm and has been assigned a market value on an “as is” basis in accordance with its highest and best use, including land improvements, as of April 2, 2004 in the amount of $3 million. The majority of the land, 83 +/- acres, is zoned Conservation Office Park and the balance, 65 +/- acres, is zoned Residential (R-40).
