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Airport sells portion of land for $8 million

INDIANAPOLIS (WISH) — A deal to sell a small portion of the 1,200 acres made available by the Indianapolis Airport Authority was announced Friday, just four days after the authority finalized plans to put the land back on the market.

The 80 acres purchased at a cost of $8 million are for land in Hendricks County, the authority said in a release. It is unclear what the purchase will mean for the land’s development.

Tuesday, IAA announced its intentions to sell the land with the hopes of adding revenue from property tax back into the community. The authority expects to release what is referred to as a Request for Qualifications, or RFQ, late next month. The authority said the RFQ will help the more than 100 potential investors with sales and leases of the property.

The overall value of the land for sale is estimated to be worth $83 million.