Borough sells tidelands for development as marine service business
January 4, 2023
The borough assembly unanimously approved the sale of a parcel of tideland property on Peninsula Street to Ketchikan-based Micony for the development of a marine service business.
The sale, which was finalized at the Dec. 20 assembly meeting, will transfer nearly 40,000 square feet of borough property into private ownership. The borough sold the land for $83,989, which is $27,511 less than the appraised value of $111,500. The price decrease is permitted under Wrangell’s municipal code, which allows the borough to sell property at less than appraised value if it will be used for economic...