The deal is expected to close by year end. The county is banking on state agency grants to help pay for the acquisition which equates to $15,625 per acre or 36 cents per sf.
"It's no bargain price but it's not over market, either," an Orlando land broker tells GlobeSt.com on condition of anonymity.
By buying the 1,600 acres, Osceola County would also be providing a buffer to any expansion plans the Seminole Tribe of Florida might have for the 1,100 acres the tribe bought from the Partin family in 2001 for $28.7 million or $28,091 per acre (60 cents per sf).
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