April 24, 2017 (Cambridge, Maryland) – Dorchester County Economic Development announced the completion of a fair market value (FMV) assessment for 12 building lots at the Dorchester Regional Technology Park, a critical milestone allowing the county to sell land to expanding businesses. The market analysis was completed less than a year after the Eastern Shore Innovation Center (ESIC) opened and in conjunction with the County’s announcement that the 13,250-square-foot incubator is almost 100% leased. “The County commissioned a market assessment to determine the value and selling price for the Technology Park lots. This was both a condition of the EDA grant and a best practice to ensure we can successfully market the sites,” said Jeremy Goldman, County Manager. “Based on the data- driven analysis conducted by W.R. McCain, we know the FMV is approximately $23,000 an acre and our economic development staff can begin marketing the lots to targeted end-users and developers. The County retained Salisbury-based W.R. McCain & Associates in November 2016 to conduct a regional market analysis; Lori M. Mrohs, a senior analyst at McCain, executed the report. “We identified the total market value of the property at $1.28 million based on land plus site improvements including utilities, …
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Tags: Dorchester Regional Technology Park, Set Price