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Resource ID: #25543
Subject: Land
Source: The Arizona Republic
Affiliation: 
Date: January-March 2011

$0.00

Description

In early 2009, Gilbert paid $300,000 per acre for 142.5 acres of undeveloped farmland intended for the development of two municipal parks. The transaction cause local real-estate experts to scratch their heads at the above-market price that Gilbert paid for the land. Leavitt's investigation found that the town bought the land without first seeking an appraisal to help determine its value.

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