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Resource ID: #22299
Source:Register (Des Moines, Iowa)
Real estate developers used their close contacts to Polk County and Des Moines city officials to buy publicly subsidized land outside the city for little money, and then sell it back for an 866 percent profit. Part of the land was then used by the county to build a new driver's license renewal office. However, since it was the only one in the county, the public not only paid an 866 percent mark-up for the land, but also must now travel farther, at greater inconvenience, in order to visit the office.