Governor Easley's waterfront lot in Carteret County has made him a lot of money.
Critics have described the purchase as a sweetheart deal.
Easley and his wife first purchased the marina lot in 2005 for nearly 550-thousand-dollars. A new land appraisal this month valued the property at one-point-two million dollars.
The Democratic governor was able to purchase the lot for three percent more than the lot's assessed tax value in 2005. But The Charlotte Observer reported that dozens of adjacent waterfront lots in the same development sold for an average of 20 percent above tax value.
Easley's office says the governor received a statement early
this month setting the lot's value at 730-thousand dollars, but hasn't been informed of a higher value by the county.
The Observer also reports that Easley's broker, the project's developer and the man who helped finance the development were all appointed to high-profile state boards.