Elm City Axe Boards buys Church Street property in Princeton for $80,000

The city of Princeton sold a surplus property and helped a local business in the process.

The Princeton City Council authorized Monday the sale of 1117 N. Church St. to the company that operates Elm City Axe Boards for $80,000. The property appraised at $90,000 and was advertised to bidders. Elm City’s bid was the lone bid and within the range for the city to accept it.

The city will move its brush pit at the site to an easier location for access and clean up before Elm City takes sole possession of the property.

Mayor Ray Mabry called the property sale a win-win because Elm City anticipates expanding its business, improving its building and adding jobs. The sale of the property also figures to add about $2,300 to the property tax collection from the lot, Mabry said.

Elm City supplies some of the leading axe houses around the country with cottonwood target boards, the company said.