— Submitted by Concerned Citizen #1

July 5, 2022

Question for Aiken’s Aspiring Real Estate Tycoons:
How can one acquire $1.5 million worth of land, on which the buildings have been demolished?

Answer:
Spend $11.1 million.

This answer comes courtesy of the Aiken Municipal Development Commission (AMDC), as enabled and encouraged by the Aiken City Council. The facts related to the question and answer are to be found in the below table.

In short, City officials have spent $9.5 million to acquire seven parcels of land, and will spend an additional estimated $1.6 million to demolish the buildings thereon. When purchased by the City in 2021, the Aiken County Assessor placed a market value of $1.5 million on the land in the seven parcels. The City did not obtain appraisals or condition surveys prior to the purchases.

(Click on spreadsheet to view fullsize image)