Multi-Million Dollar Land Deal on Hold

JUNE 15, 2005 -- A multi-million dollar land deal in Carolina Beach is in jeopardy.

Earlier this week, the town announced a plan to sell a town-owned tract of land at 313 Georgia Avenue to a developer. The cost would be $3.4 million.

Town officials discovered the deed states the land can only be used as a well site.

The developer wants to build a combination of homes and businesses on the property.

The sale is on now on hold until the town's attorney determines if the land can be sold.