The check was handed during Tuesday’s press conference by the Palau Public Lands Authority to the government.
The land was originally bought in the amount of $540,000 in 2000 and was recently sold for $480,000 but with taxes and commission it went down to $436,364.73.
The government has decided to sell the land because the cost in maintaining it is very high.
The money from the sale of the land will be infused into the government’s budget to help pay for some of its services.
The property was sold to Young Hee Ji and James Ji Company.
The property was a 10-acre land located in the village of Yigo, located next to the former Hatsuho Golf Course.
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