COLUMBIA, S.C. (AP) -- South Carolina's budget oversight board has approved selling 318 acres in Port Royal for $17 million.
The five-member Budget and Control Board voted unanimously Tuesday to approve the contract. The sale includes 265 acres of marshland.
Two previous attempts to sell the property fell through.
Three years ago, developer David Staley said he couldn't get backing for a $16 million deal to buy the property. A second deal involving a Charleston developer fell through earlier this year.
The State Ports Authority and the town have agreed to a planned unit development for the tract featuring retail space and housing on the land overlooking the Beaufort River.
Former Gov. Mark Sanford called for closing the port and selling the property soon after taking office in 2003.
(Copyright 2011 by The Associated Press. All Rights Reserved.)
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