The Coweta

County Board of Commissioners decided to get into the

industrial park business Tuesday by purchasing 940 acres

in the Shenandoah Industrial Park for $13.5 million.

The county

decided to purchase the property near Interstate 85 after

receiving a positive feasibility study from the county's

consulting firm, Robert and Company, and receiving a

favorable appraisal on the property.

In

announcing the purchase, Commission Chairman Lawrence

Nelms said the purchase would allow the county to choose

the type of industry that would be good for the county.

The

purchase will be financed by industrial revenue bonds and

the bonds will be paid back as tracts of land are sold to

industrial prospects.

"This

is going to be very beneficial to everybody in the

county," said Commissioner Vernon "Mutt"

Hunter.

Commissioner

Jim McGuffey also was pleased with the purchase and said

this shows the county is being "proactive" in

trying to bring in more industry to the county.

For $13.5

million, the county will receive 940 acres of property,

including 90 acres of wetlands, all maps, engineering

studies and future road and sewer plans for the property.

The

property is currently owned by Shenandoah Development

Group. If the county negotiates any contracts on the land

before closing, the development group would net 15

percent of the gross price of the sale.

The county

has set a Sept. 1 deadline for closing the purchase.

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