The Tri-County Journal
& Chattahoochee Chronicle
PO Box 850, 71 Webb Lane
Buena Vista, GA 31803
229-649-6397
tjournal@alltel.net

By BRANDE POULNOT (from the 1-25-06 issue)
   Nine registered bidders showed up last Thursday to bid on the 332-acre parcel of land Cusseta-Chattahoochee County commissioners declared surplus last year.
   A Newnan development company, Mark C. Woods Homes, Inc., purchased the parcel, located at the intersection of Riverbend Road and Highway 27, for $1,133,607, or $3,100 per acre. The county will collect a total of $1,030,552 from the sale and Hudson & Marshall Auctioneers will bring in a little over $103,000 for their efforts.
   Mark Woods, owner of Mark C. Woods Homes, Inc., said “For now we will wait to see what happens with the sewage.”
   He indicated his company would use the land for a planned unit residential housing development (PUD), which would contain a mixture of housing. Presumably, the development would contain multi-family or apartment/condominium type housing and a variety of single-family or traditional houses that could range from small starter homes on half-acre parcels to larger homes on multi-acre lots.
   “We figured we would get a parcel now to secure ourselves in an area we think will grow substantially,” said Woods.
   Woods indicated his company would begin work on the land as soon as plans for the sewage system are approved and bonds are issued to fund its construction. The density of the development will depend on the capabilities of the sewage system.
   Woods also indicated he is partnered with investors who wish to remain anonymous.
   The county collected a nice return on its investment, about $50,000 shy of doubling its  original investment in the land, which included an additional approximate 125 acres the county still owns.
   County officials have indicated in sewage system talks that a portion of that acreage may be used for a sewage treatment facility.
   The county also profited from the recent harvest of timber on a portion of the 332-acre parcel.
   The county can also expect a substantial amount of tax revenue from the purchase, as the land is now taxable and will drive tax revenue based on the fair market value of $3,100 per acre.
   Local residents may see a slight increase in the value of land in the area and can look forward to the possibility of an economic boost the major housing development could bring to the community.