- Associated Press - Thursday, May 28, 2015

BEAUFORT, S.C. (AP) - After struggling for years to sell its old Port of Port Royal property, the South Carolina Ports Authority has received two new bids for the 317-acre tract.

The authority recently lowered its minimum price by $600,000 to about $14.8 million, coastal media outlets report.

Authority spokeswoman Erin Dhand said the agency is reviewing the offers but cannot provide details. The property was once the site of a small port that began operation in 1958 but has been vacant for a decade.

There have been four failed attempts to sell the property since 2006.

In April, a $15.4 million offer from Furman Co. Investment Advisory Service was terminated when the Greenville-based buyer ran out of time to complete its analysis and meet other deadlines.

In 2013, the asking price for the property was as high as $22.5 million.

The property has been closed since 2004, when the Ports Authority deemed it too expensive to continue operating.

Gov. Nikki Haley signed legislation last year requiring the property be auctioned for no less than 80 percent of its appraised value if it remains unsold on June 30. The original deadline was the end of 2009.

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